On March 12, the court ordered the US Department of Defense to stop designating the Chinese company Xiaomi as a “subsidiary of the Chinese Communist Army”. Donald Trump In January, its government imposed more sanctions on Chinese companies: it blacklisted nine companies of classified organizations compiled under the Defense Licensing Act. Americans are not allowed to buy shares in these companies, and those who already have to liquidate their shares by November 11th.
Xiaomi, one of the companies involved, did not leave it there: a legal complaint at the end of January Presenter Against the decision because he found it illegal and unconstitutional.
Then the court I decided in favor of the companyPresidential Decree No. 13959 restricting American people from purchasing Xiaomi securities and requiring the disposal of American people’s shares in full, with immediate effect, has been canceled.
Xiaomi believes that his appointment as the “Chinese Communist Army Corporation” is unfounded and arbitrary, which the judge agreed to. Xiaomi is also asking the court to declare the mark illegal and permanently delete it.
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