The US Department of Defense has decided to blacklist Xiaomi and 8 other Chinese companies in accordance with military links. The decision was announced on January 15 which also includes a plane manufacturer company -Commercial Aircraft Corp. of China.
After facing blacklisting from US, Xiaomi shares have fell by 11% and the previously passed order by Donald Trump in November 2020 restrict US investors from buying shares or securities from any company blacklisted on DoD.
This is not the first time that a Chinese company has been blacklisted from the world. Earlier India has also blacklisted 46 of Chinese apps after Galwan attack. The US Department of Commerce previously listed China National Offshore Oil Corp. on the economic blacklist.
In a statement released US officials said the China’s efforts to acquire intellectual property & technology for militarization poses a threat to the US national security and of international community also.