A judge in Washington has temporarily lifted US trade restrictions against Chinese smartphone maker Xiaomi.
Former President Donald Trump’s administration blacklisted Xiaomi and a group of other Chinese companies just before Joe Biden took office.
Xiaomi allegedly has ties to the Chinese military, according to the Trump administration, although the company firmly denies this. The operation prohibited Americans from owning shares in the Chinese company.
It was recently announced that Xiaomi is disappearing from FTSE Russell’s international stock market meters.
The company behind many leading stock market indices stated that it had to take this step because of the blacklist.