Tech

Xiaomi Wins Case Against US Embargo

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In the US, the Chinese company, which applied to the court against the Pentagon’s decision to blacklist Xiaomi, managed to get what it wanted from the court. The court described the Pentagon’s decision as “deeply wrong”.

The trade wars between China and the US most negatively affected Huawei. While Huawei sales were seriously affected, one of the companies that benefited the most from the situation was Xiaomi, a company of Chinese origin.

The US government and Pentagon’s decision, which recently passed a decision banning Xiaomi from investing in the US, was caught in the federal court. The court board ruled that the decision taken was wrong. So these prohibitions cannot be applied to Xiaomi.

The charges came from the Pentagon

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The accusations that caused Xiaomi’s trouble came from the Pentagon. Pentagon officials Xiaomi’s Is one of the companies associated with the Chinese army He argued and demanded that their investments in US soil be stopped.

The judge of the court, Judge Rudolph Contreras, also in the comments section of the judgment. “Xiaomi produces commercial products for civilian use is a public companyis managed by independent boards and controlling shareholders, and is not controlled by the People’s Republic of China or those associated with security services. “ used the expression.

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Xiaomi, on the other hand, said that they are satisfied with the judge’s decision and For the complete abolition of the investment barrier He stated that they will start working. The Pentagon has not made an official statement on the issue, at least for now.

It was one of Trump’s last actions

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Former President of the United States A few days before Donald Trump’s rule ends The decision, which would impose restrictions on Xiaomi investments in the USA, was signed. Xiaomi, of course, used his right to appeal this decision and took the case to the court.

In the statement of the judge, it was stated that the decision was rejected and a detailed examination was required in order not to cause irreversible damage to the company. A ban to be applied in the USA, Xiaomi’s Exclusion from many major indexes and benchmarks why would Let’s see which of the two companies will be the ultimate winner of this struggle?

Source :
https://www.wsj.com/articles/xiaomi-wins-court-ruling-halting-u-s-investment-ban-11615604756

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