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Sunday, April 18, 2021
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Court ruling temporarily suspends US ban on investment in Xiaomi

A U.S. federal judge on Friday temporarily blocked the U.S. Department of Defense from restricting U.S. investment in Chinese smartphone manufacturer Xiaomi Corp.

The Defense Department, under the former U.S. President Trump administration in mid-January, added Xiaomi and eight other firms to a list that requires American investors to divest their holdings in the firms by a deadline, as these companies are allegedly linked to the Chinese military.

Xiaomi in late January filed a complaint in a Washington court seeking to be removed from the list.

U.S. District Judge Rudolph Contreras on Friday put a temporary pause to the ban for Xiaomi, and Contreras said Xiaomi was likely to win a full reversal of the ban as the litigation unfolds.

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