Xiaomi, which was blacklisted in the last days of the Trump administration, won the case he filed in America. What will happen next?
US President Donald Trump went out to blacklist Xiaomi and eight Chinese companies for ties to the Chinese military. Shortly before the financial restrictions began, a federal court in America decided to temporarily halt the sanctions imposed by the government against the Chinese company.
Xiaomi leaves its first case in America with victory
US District Judge Rudolph Contreras claimed that the move was “arbitrary and capricious.” In this case, which deprived the company of its rights to legal action, it temporarily suspended the ban by siding with Xiaomi. The judge also said that Xiaomi could revoke the ban altogether as the case progressed, and that the company also issued an order to avoid “irreparable damage”. The US, which is a state of law and strictly adhering to court decisions, is expected to remove Xiaomi from the black list after this decision and its subsequent final result.
In a statement made after the announcement of the decision, Xiaomi asked the court to declare its connection with the military illegal. The company will also continue to demand permanent lifting of the sanctions.
Especially immediately after the announcement of the sanctions, Xiaomi faced the possibility of being removed from the list of US stock exchanges and being deleted from global benchmark indices. In addition, US investors were prevented from investing in Xiaomi.
Xiaomi is the third largest seller in the world when it comes to smartphone sales. The company also manages to be in the top two bestsellers lists on many principles.