The US is considering the removal of listed Chinese companies from American stock exchanges in what could potentially pile up more pressure on Beijing following the imposition of tariffs.
US treasury secretary Scott Bessent, in a conversation with Fox Business Network, said “everything is on the table” and the decision to delist the Chinese stocks lies with the US President Donald Trump.
“At the end of the day, President Trump and Chairman Xi have a very good personal relationship and I'm confident this will be resolved at the highest levels,” he said during the interaction.
The development comes soon after Trump announced additional tariffs on Chinese goods, taking the total effective levy to 145 percent, as on April 11.
As of March, there are 286 Chinese firms listed on US stock exchanges, with a total market capitalization of $1.1 trillion, a report by Axios said.
The US could also possibly put curbs on China by restricting financial holdings or through further trade sanctions, which could pose a “serious risk” for the world’s second-largest economy.
Such measures could cause a “sharp selloff” of heavily foreign-owned China tech stocks, according to Bloomberg.
Trump’s sanctions also affect major Chinese tech stocks. The Hang Seng Tech Index has shed more than $350 billion in market value since a March high, though it has gained about 9% over the past three sessions. While China’s rapid AI development remains a key positive, heightened geopolitical tensions are at the forefront at the moment.
With agency inputs
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