The US government has blacklisted Chinese smartphone maker Xiaomi Corp. and China”s third-largest national oil company for alleged military links, heaping pressure on Beijing in President Donald Trump’s last week in office. The Department of Defense added nine companies to its list of Chinese companies with military links, including Xiaomi and state-owned plane manufacturer Commercial Aircraft Corp. of China (Comac).
US investors will have to divest their stakes in Chinese companies on the military list by November this year, according to an executive order signed by Trump in November.
Xiaomi did not immediately respond to a request for comment. Xiaomi Corp. overtook Apple Inc. as the worlds No. 3 smartphone maker by sales in the third quarter of 2020, according to data by Gartner. Xiaomis market share has grown as Huaweis sales have suffered after it was blacklisted by the U.S. and its smartphones were cut off from essential services from Google.
