The Chinese smartphone provider Xiaomi moves in court in the US to stop sanctions from the Trump government at the last minute. Xiaomi had come to a black list of the US Department of Defense in mid-January with eight other Chinese companies. One consequence is that US investors should be banned to buy Xiaomi shares – and they should separate themselves from all shares by January 2022.
Xiaomi argues now in the lawsuit submitted on Friday, the US government had not held on necessary procedures with the confusion of sanctions in mid-January. And also the reproach alleged links to the Chinese militar is wrong. Xiaomi, among other things, strives for interim borrowing, which should expose the sanctions quickly.
Since the US government has changed the US government after the end of the term of office of Prasident Donald Trump, the new Minister of Defense Lloyd Austin and the new Minister of Finance Janet Yellen was already sued. The government of the new Prasident Joe Biden can make the sanctions backward – so far, he has previously been able to enter TRUMM’s china decisions up to a congress.