The U.S. government agreed to remove Xiaomi from a Trump administration blacklist after the company filed a lawsuit earlier this year, according to court documents seen by Bloomberg. Xiaomi was added to a U.S. military blacklist of alleged Chinese military companies in January, which would have blocked American investment in the company.
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“The parties have agreed on a path forward that will resolve this dispute,” the statement said. Other details are scarce, but both sides will submit another joint proposal before May 20, Bloomberg reports.
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Late in Trump’s term, the US Department of Defense declared Xiaomi a Chinese military-controlled company and part of China’s “strategic military-political fusion.” Xiaomi returned to the lawsuit just two weeks later, stating that its two co-founders had 75% of the voting rights and that there were no military ties to the ownership. It added that three of its major shareholders were American investment groups.
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In March, a US court temporarily halted the blocking, saying Xiaomi was likely to win a full reversal. So far, the Pentagon, Xiaomi and Chinese authorities have not commented on the development.
Information source: engadget.com
