The Bloomberg resource reported the start of a lawsuit against the United States by the Chinese electronics manufacturer Xiaomi. Xiaomi plans to sue the US government to lift its blacklist, which it has called «unconstitutional».
The lawsuit names US Defense Secretary Lloyd Austin and Treasury Secretary Janet Yellen as defendants, although they did not hold their current positions at the time Xiaomi was blacklisted by the Trump administration. Austin and Yellen were appointed to their current posts by Joe Biden, who took office as president of the United States on January 20.
Due to the blacklist, US investors are now prohibited from buying securities from Xiaomi. They will also have to divest their assets by November 11, 2021. This can have serious consequences for the company. * "Xiaomi will face imminent, serious and irreparable harm if the order remains in effect and the restrictions come into effect,» the company said.
Under the Trump administration, Chinese smartphone and networking equipment companies such as Huawei and ZTE have been called national security threats. Ironically, Xiaomi does not sell its smartphones in the US, shipping only a few products to the country, including external batteries and the popular Xiaomi Mi Band fitness tracker.
Commenting on the filing of the lawsuit, Xiaomi made the following statement: «the company abides by the law and acts in accordance with the relevant laws and regulations of the jurisdictions in which it operates. The company reiterates that it provides products and services for civil and commercial use. The company confirms that it is not owned, controlled, or «is affiliated with the Chinese Armed Forces and is not a «military company of the Chinese Communist regime» as defined in the NDAA. The COMPANY will take appropriate measures to protect its interests and those of its shareholders.» .