Chinese smartphone maker Xiaomi has filed a lawsuit against the United States seeking removal from Washington’s blacklist. It includes enterprises that do business with the American side, but are associated with the military industry of the PRC, writes CNBC.
Listing prevents US investors from buying Xiaomi shares. Because of this, the company filed a lawsuit against the US Treasury and Defense Department in the Columbia District Court. Xiaomi claims that such actions by the US authorities “are unconstitutional, because they deprive the manufacturer of freedom and property rights without due process of law.”
The Chinese company also noted that the ban on the purchase of shares would cause “irreparable harm.” “If Xiaomi loses access to US capital, the company will not be able to fully conduct, develop and finance its business, maintain business relationships, and hire employees,” the lawsuit says.
The manufacturer also stated that it is not owned or controlled by the Chinese government or the military, or any organization associated with the Chinese defense industry.
In addition to Xiaomi, eight more Chinese companies were blacklisted. They will be subject to a decree by former US President Donald Trump, which prohibits investment in such firms.