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HomeWorldOutgoing Trump Blacklists 9 Chinese Companies Including Xiaomi

Outgoing Trump Blacklists 9 Chinese Companies Including Xiaomi

Kuala Lumpur: The outgoing president of the United States Donald Trump has blacklisted China’s nine major companies, including the largest smartphone company Xiaomi, in order to tackle ‘tech threat’ in America. Trump, who has always been in an anti-China mood, took the decision days before the inauguration of Joe Biden.

According to Trump administration, these companies are owned by the Chinese military that poses threat to American technology and country’s people.

The new restrictions against Chinese companies will not allow American investors to invest. The move also barred US people from purchasing shares and securities of the companies.

Trump Administration, however, did not specify the link behind the Chinese military with those listed companies. Trump government has been accused Chinese companies of stealing US intellectual property rights over the past long time.

Following the move, China hit out at US’ outgoing government, accusing Trump administration of double standards and bullying. China said it’s a abuse of power.

Many observers believe that such moves may overturn by Joe Biden’s government. Biden will take oath on January 20.