Tech Business and Politics

The US ban on investment in Xiaomi has been lifted

On Friday, a federal judge in the United States briefly barred the Department of Defense from requiring American investors to withdraw from Chinese smartphone manufacturer Xiaomi Corp, citing the company’s military connections. In mid-January, the Defense Department, under the Trump administration, added Xiaomi and eight other companies to a list that allows Americans to sell their stakes in the companies by a certain date. The controls were due to take place the next week. U.S. District Judge Rudolph Contreras in Washington, D.C., said on Friday that the court “concludes that defendants have not made the case that the national security interests at stake here are compelling.”

Source: Reuters

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