The US government has blacklisted China's smartphone company Xiaomi Corporation and China's third-largest oil company. This action has been taken when there is less than a week left for President Donald Trump to step down from power.
These companies have been blacklisted due to their links with the Chinese military. The Ministry of Defense has blacklisted nine companies due to military ties. The companies that have been taken into action include the Xiaomi Corporation and the government aircraft manufacturer Commercial Aircraft Corporation of China.
After these companies are on the blacklist, American investors will have to end their stake in these Chinese companies. Investors have been given time till November 2021 for this. Explain that the American on the executive order related to it. Being on the list means transferring technology from the companies involved in November 2020 last year.
Xiaomi Corporation has not yet responded to this action. According to Gartner, Xiaomi surpassed Apple in terms of sales has become a big company. When the US banned Huawei and Google's essential services on its smartphone were discontinued, its sales were adversely affected and Xiaomi's market share increased.