News Snapshot:
Xiaomi’s Headquarters Getty Images GUANGZHOU, China — The Trump administration has added smartphone maker Xiaomi to a blacklist of alleged Chinese military companies. Hong Kong-listed shares of the Chinese firm were down 10.6% at the open on Friday on that news. Beijing-based Xiaomi was the world’s third-largest smartphone maker in the third quarter of 2020, according to Counterpoint Research. The move means that Xiaomi is now subject to a November executive order restricting American investors from buying shares or related securities of any companies designated by the Department of Defense to be a Chinese military company. Trump’s initial executive order...
