US to eliminate Xiaomi from government’s blacklist

The U.S Department of Defense is planning to evict China’s Xiaomi Corp from the government blacklist, a court filing revealed marking a remarkable turnaround by the Biden administration of one of Donald Trump’s last jabs at Beijing before leaving office.

The filing claimed that the two parties would admit to settle their ongoing litigation without further contest, terminating a brief and controversial dispute between the hardware company and Washington that had further increased tensions in Sino-U.S. ties.

A Xiaomi spokeswoman stated that the company is watching the recent developments closely, without explaining, reported Reuters.

Shares in the company spiked over 6% in Hong Kong as news of the decision circulated. The company’s share price has declined around 20% since it was listed on the blacklist in January in the last few days of the Trump administration.

The department had labeled the firm as having relations to China’s army and kept it on a list that would limit US investment in the company.