In January of this year, the US government suddenly announced that it would include 9 Chinese companies in the "List of Chinese Army Companies" and would restrict trading in the securities of these companies to US investors. also Xiaomi.
Xiaomi wins the case against the US government: removed from the blacklist
The US government action had also caused a steep drop in the Xiaomi share price, with cumulative losses of more than 30% at one time. Xiaomi had obviously denied it immediately and was suing the US Department of Defense and the US Treasury in the District of Columbia court on January 31.
Well, today according to the latest reports, Xiaomi Group and the US Department of Defense have again published a "Joint Status Report", or a joint report on the state of the situation, declaring that the two parties have finally reached an agreement.
The document shows that the US government and the Xiaomi group have agreed to peacefully resolve the lawsuit. The Defense Department and other defendants have also agreed that a final resolution should be adopted to remove the Xiaomi Group from the military blacklist and the two sides will negotiate and draft specific content on the final resolution, which is expected to be submitted to the court by May 20.
This means that Xiaomi's lawsuit against the US government has been won and Xiaomi will no longer be limited by the US.
Back in March, the US court found it inappropriate for Xiaomi to have been listed as a military enterprise. On March 12, he had in fact issued a temporary injunction and had suspended the identification of Xiaomi as a Chinese military company, with an executive order and lifting of the restrictions on the purchase and holding of Xiaomi shares by American investors.
In conclusion, Xiaomi's victory has finally claimed Chinese companies that have suffered several attacks during the Trump government.
