(TargetLiberty.org) – The Biden administration has made a big concession to China, after a blacklisted tech firm was removed from a list of companies linked to the Chinese military. It’s yet another rollback of a Trump-era security measure, and it seems to benefit people in China more than anyone else.
The #US Department of Defense will remove #China’s #Xiaomi Corp from a government blacklist, a court filing shows, clearing the way for any future American investment in the smartphone maker.https://t.co/w44dDMxYvh pic.twitter.com/dho7b0x1NM
— Al Arabiya English (@AlArabiya_Eng) May 12, 2021
On May 11, the Pentagon announced it was removing Xiaomi Corporation from its list of Communist Chinese Military Companies (CCMC). Designation as a CCMC blocked US investment in the company, and in March, a US district court ruled that this could cause “irreparable harm” to Xiaomi.
Xiaomi has always denied links to the Chinese military, but the Trump administration wasn’t the only doubter: The company has also faced import bans in India, and last year Forbes ran a feature on the company’s alleged unethical harvesting of user data, which it was accused of passing to a Chinese government agency.
When the delisting was announced on Tuesday, Xiaomi shares jumped by 6.5% as investors took advantage of the delisting. Separately, Representatives John Katko (R-NY) and Andrew Garbarino (R-NY) of the House Homeland Security Committee wrote to the administration in April to warn that Xiaomi could replace banned telecom firm Huawei in the US market.
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