President Donald Trump has a bill on his desk that could kick several Chinese companies off U.S. stock exchanges and inflame an already strained relationship between Washington and Beijing.
The Holding Foreign Companies Accountable Act would force companies to give up their listings on Wall Street if they refuse to open their books to U.S. accounting regulators. It could also bar them from raising money from American investors.
While the law technically applies to companies from any country, it is mainly targeting Chinese corporations.
“U.S. policy is letting China flout rules that American companies play by, and it’s dangerous,” said Sen. John Neely Kennedy, R-La., in a statement.
Chinese Foreign Ministry spokeswoman Hua Chunying said at a news conference this week that the bill politically oppresses Chinese fi