US Government Puts Xiaomi Under Investment Ban

xiaomi us ban

Xiaomi, also known as Apple of China, has been blacklisted by the Trump administration in the United States. Along with Xiaomi, eight other companies have also been banned.

With Huawei out of the States, the Trump administration has set its eyes on the second-biggest Chinese giant in the USA. Xiaomi, along with eight other companies, was added to the list of companies having ties with the Chinese military. US government passed an order back in November 2020 that bars American securities and investment companies from investing in companies linked with the Chinese military.

Other firms targeted under the ban include Luokong Technology Corp, Gowin Semiconductor Corp, Global Tone Communication Technology Co., and Advanced Micro-Fabrication Equipment Inc. Following the ban, US investors are barred from putting in the capital in the banned companies, and will also have to pull out the existing money from the company.

It’s only a week until Joe Biden takes over the White House, and some experts believe the move to be overturned. Xiaomi currently sells only accessories, including Smart TV stick, air purifiers, and security cameras in the States. The company was earlier tipped to enter the smartphone market in the United States way back in 2015, but we’re still wondering if we’ll see that day. With the ban in place, it looks like the day is still far.

It’s not the first time the US government putting a ban on Chinese companies. It has, as we all know, put Huawei under a ban for some time, and even DJI was blacklisted a while back. On 31st December 2020, Apple also removed over 85,000 apps and games from the App Store in China. The move wasn’t political, though, it was due to app developers and publishers not complying with the regulations of the Chinese government.

We Want to Hear From You

What are your thoughts on the Trump administration blacklisting Xiaomi? Do you think the move is justified? Or do think there’s something else going on behind the scenes? Let us know your thoughts in the comment section below!

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