Then Vice President Biden met with Chinese President Xi Jinping at a California meeting aimed at strengthening Chinese investment in the state. China has now the lead in 5G infrastructure, but experts say don't count Silicon Valley out yet.The US is taking China's Xiaomi Corp off its trade ban list, a court filing showed.
This means Americans will be able to invest in Xiaomi — shares have already risen 6% since the news broke.See more stories on Insider's business pageThe Department of Defense will remove China's Xiaomi Corp from a government trade-ban list, a court filing on Tuesday showed, allowing Americans to invest in the smartphone maker in the future.
The filing stated that the two parties had reached an agreement to resolve their ongoing litigation after Xiaomi sued the US government earlier this year. A Xiaomi spokeswoman said the company was watching the latest developments closely, but did not elaborate. Shares in the company rocketed over 6% in Hong Kong as news of the decision spread.
DoD officials didn't immediately respond to a request for comment after US business hours on Tuesday.Something is loading.By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our
China JoeBiden in action.
China Joe keeping America safe lol he is a mess.
Good news!
So they got banned because it was believed by the US security services that Xiaomi is and was being controlled by Chinese military? The reasoning given was that Xiaomi was an arm of the 'Communist Chinese Military' and therefore could not be trusted or supported by U.S. parties.
This shouldn’t be
Hail Biden!