Trump administration signals possible delisting of Chinese firms amid tariff escalation

Trump considers delisting Chinese firms as tariff battle escalates.

The Trump administration is weighing the possibility of delisting Chinese companies from U.S. stock exchanges, marking a fresh escalation in its economic confrontation with Beijing. The warning comes as both nations intensify tit-for-tat tariff measures, shaking global markets and raising fears of prolonged instability.

U.S. Treasury Secretary Scott Bessent, speaking on Fox Business Network on Wednesday, said the option was under consideration. “Everything’s on the table,” Bessent said when asked about potential delistings. “That will be President Trump’s decision. 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.”

On Thursday, the White House announced that tariffs on most Chinese imports had been raised to 145%, following Trump’s imposition of a new 125% levy a day earlier. Beijing quickly retaliated with 84% tariffs on U.S. goods. The White House also introduced a 90-day pause on tariff hikes for other U.S. trading partners, though it excluded China.

“China does not qualify for the exemption due to its ‘lack of respect,’” President Trump said, defending the exclusion.

The market reaction was swift. The S&P 500 fell 3.5%, the Nasdaq dropped 4.3%, and the Dow Jones Industrial Average slid 2.5%. Oil prices also declined by more than 3%.

As of March 7, 286 Chinese firms—worth $1.1 trillion in combined market cap—are listed on U.S. exchanges. These include giants like Alibaba, Pinduoduo, and EV makers NIO, XPeng, and Li Auto. A delisting could further destabilise U.S.-China economic ties.