The administration described outgoing US President Donald Trump, branded a company Xiaomi The Chinese government is a threat to the US national security and decided to place it in the list of entities prohibited from dealing with US companies.
Huawei and ZTE have already faced the same fate during the past months, which affected a giant percentage of international sales, especially for Huawei.
According to the decision, US investors must sell their holdings from any of the blacklisted companies by November 11, 2021.
Xiaomi faces the fate of Huawei in the United States and Trump puts it on the blacklist
Xiaomi shares are traded in the US in the form of American Sales Receipts (ADR). Today they are down 7.54%, or $ 1.61, to close at $ 19.75 in the wake of this news.
And managed Reuters From perusal of a document that blacklisted nine Chinese companies, in addition to Xiaomi, which included the aircraft manufacturer Comac.
For its part, Xiaomi Corporation published a statement stating that it was committed to “laws and regulations related to the jurisdictions in which it conducts business”. The company asserts that it is “not owned, controlled or affiliated with the Chinese army and is not a” Chinese communist military company “.