Trump signs bill that could kick Chinese firms off US stock exchanges - Business Insider

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Trump signs bill that could kick Chinese companies off US stock exchanges unless they agree to American accounting standards

US President Donald Trump and China's President Xi Jinping attend a bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019.Trump on Friday signed a bill that would ban Chinese companies from being listed on US stock exchanges unless they adhere to American accounting standards.

The Holding Foreign Companies Accountable Act" bars securities of foreign companies from being listed on any U.S. exchange if they have failed to comply with the US Public Accounting Oversight Board's audits for three years in a row. The legislation, like many others taking a harder line on Chinese businesses, had passed Congress by large margins earlier this year. Lawmakers — both Democrats and Trump's fellow Republicans — echo the president's hard line against Beijing, which became fiercer this year as Trump blamed China for the coronavirus ravaging the United States.

 

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Trade war leveling 🆙

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Fair enough. Keep a level playing field

coward

Bravo 👏🏼4️⃣5️⃣❤️

That...makes sense.

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If they're traded on the NYSE where companies in the U.S. are already subject to the SOX Act of 2002, why not? Afterall, we wouldn't want them cooking the books and costing investors money like Enron did.

How about the companies that do business with the US military? So two face.

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 /  🏆 729. in TH

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