Trump signed an executive order barring US investors from buying exposure to firms deemed linked to the Chinese military. (File photo)
NEW DELHI: Outgoing US President Donald Trump has toughened his stance towards Beijing in the final months of his presidency with a slew of measures targeting Chinese companies. Here is an outline of moves so far, the fallout in financial markets and China’s response:
1 Delisting threat Trump signed the Holding Foreign Companies Accountable Act into law on December 18. It allows US authorities to remove foreign firms from stock exchanges if they fail to comply with US audit rules for three years.
Outgoing U.S. President Donald Trump has toughened his stance towards Beijing in the final months of his presidency with a slew of measures targeting Chinese companies.
NYSE reverts to original plan to delist Chinese telecoms firm
The New York Stock Exchange has announced it will move forward with plans to delist three Chinese telecoms giants just days after u-turning.
The exchange will remove US-traded shares of China Telecom, China Mobile and China Unicom “to comply with US law,” it said on Wednesday.
The NYSE originally announced its delisting plans last week following an executive order signed by US President Donald Trump blocking American investment in firms deemed to be owned or controlled by the Chinese military.
MSCI, FTSE Russell, Nasdaq and S&P Global also released lists of Chinese companies that would be dropped from their indices.
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