Now that Huawei is successfully out of the image, the Trump administration has set its eyes on the subsequent massive Chinese language smartphone maker, Xiaomi. On Thursday, the US administration added 9 firms to its blacklist of firms with ties to the Chinese language navy, which incorporates the world’s third-largest smartphone maker, Xiaomi.

Following this transfer, US traders can now not make investments in the businesses added to this particular blacklist. They’re barred from buying shares and securities of firms like Xiaomi who’re part of this checklist and should divest their present holdings in them by Nov. 11, 2021, Reuter studies.

Sadly, to this point the Trump administration has not given any proof as to how Xiaomi or different firms are tied to the Chinese language navy. Blacklisting Xiaomi was very sudden and fairly surprising given how Xiaomi is actually a smartphone and electronics firm. Earlier than this transfer, the Trump administration was targeted on blacklisting firms from essential industries like telecommunications (Huawei) and Semiconductor know-how (SMIC). At the moment, the US has blacklisted over 60 Chinese language firms which embody the world’s largest drone maker DJI and China’s high semiconductor agency SMIC.

Nonetheless, it’s value noting that this blacklist is totally different from the US Entity Listing. So in contrast to Huawei and even DJI, Xiaomi nonetheless can import US know-how with no license, at the very least for now.

It’s additionally fairly doable that the Biden administration that’s all set to take energy from January 20 overturns this choice. Nonetheless, till then, it stays to be seen how Xiaomi and different Chinese language firms react to this sudden blacklisting.

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