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Siomi has filed a lawsuit against the US Department of Defense and Economic Affairs. The smartphone maker sees the US investment ban as unjustified.
The United States added Xiaomi to its corporate list last month. It lists companies that the United States believes have an alliance with a hostile military. Such companies face trade restrictions. According to Siomi, US investors are no longer allowed to trade in the company’s securities.
Irreparable damage
“If these measures are implemented, Siomi will face immediate, severe and irreparable damage,” the company said. Fee Who filed it in Colombia. The company insists it is not owned or controlled by the Chinese government. It has no affiliation with the Chinese government or the Chinese military, even if it is owned or controlled by a company affiliated with China’s security.
Sensitivity technology
In addition to the ban on trading in Xiaomi securities, these measures also ensure that ‘sensitive’ technology can no longer be imported from China. It is not entirely clear what this technology means. Chip maker Qualcomm is still allowed to trade with Siomi, but must have withdrawn its stake in Siomi before November 11th. Xiaomi can still continue to deliver phones with the Android operating system, including US chips and Google Play services.
Trump’s latest swipe in China
The ban on Xiaomi was last swiped by Donald Trump before he stepped down as President of the United States. Trump did not escape the measures of former Chinese phone makers Hawaii and ZE and drone maker DJI. Joe Biden has now accepted the leadership, but he does not appear to want to reverse his actions against China in the short term.
Tip: Many IT challenges await Joe Biden
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