Treasury Secretary Steven Mnuchin said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021
Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue.
The recommendation is part of a push by the Trump administration to correct what it calls major imbalances in ties between the world’s two largest economies. Tensions between the two countries have flared in past months over China’s handling of the coronavirus outbreak, Hong Kong and human rights. “We did a Phase 1 deal and it was a wonderful deal, and all of a sudden it means very little in the overall import of things,” Trump told reporters.
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