Treasury Secretary declares Chinese firms possibly to be taken out from US stock markets
(MENAFN) The US Treasury Secretary, Scott Bessent, has indicated that Washington is considering delisting Chinese companies from US stock exchanges as part of the ongoing trade conflict. This announcement came after China raised tariffs on American goods to 84%, following a similar increase by the US, which imposed tariffs up to 104% on Chinese imports earlier this week. Bessent expressed frustration over China’s reluctance to negotiate, accusing the country of being one of the worst offenders in international trade.
Bessent warned that if China begins devaluing its currency, it would impact the global economy, and the US may need to raise tariffs further to offset the effects. Currently, 286 Chinese companies, including Alibaba, are listed on US exchanges. Bessent noted that the decision on delisting would ultimately lie with President Trump.
This new development follows China's imposition of an additional 50% tariff on US goods, escalating the trade war further. China has also lodged complaints with the World Trade Organization, retaliating against US actions and placing American businesses on its "unreliable entity" list.
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