I'm sure many of you have heard about the United States of America's "war" on Chinese companies, Trump's sanctions against China. Now, as always, we write about this move in a policy-neutral way.
On Thursday morning, 15.01.2021, the Trump-led US government added nine more Chinese companies to its blacklist, reports routers. These include two giant companies, aircraft manufacturer Comac and phone and smart device manufacturer Xiaomi.
As a consequence of the decision, these companies will no longer be allowed to trade on the US stock exchange, US companies will not be allowed to invest in these companies and they will have to sell all their shares by 11 November 2021.
A 1999 law requires the Ministry of Defence to compile a list of companies owned or controlled by the Chinese military. The Pentagon, which only began complying this year, has so far listed 35 companies, including oil giant CNOOC and China's top chipmaker SMIC.
Neither the Chinese government nor Xiaomi have yet commented on the Trump administration's decision on the last day of the Trump administration, and we are likely to hear more later today or in the next few days.
This list is not yet the same list that Huawei is on, so no need to panic, there will still be Google service on Xiaomi phones! We'll be back with more details as soon as we hear anything new!
