1. Skip to content
  2. Skip to main menu
  3. Skip to more DW sites
Live TV
Latest audioLatest videos
In focus
Russia's war in UkraineGerman election 2025COP29 climate talks
BusinessNorth America

US threatens trading ban for Chinese companies

August 11, 2020

Steven Mnuchin said Chinese firms must comply with US audit requirements or be delisted from the US stock exchange. The delisting will take place at the end of 2021.

https://p.dw.com/p/3glWw
The New York Stock Exchange
Image: Getty Images/AFP/J. Eisele

US treasury secretary Steven Mnuchin singled out Chinese firms on Monday while warning companies to either comply with US audit requirements or be delisted from the US stock exchange as of the end of 2021.

"As of the end of next year, if they do not fully comply, and that's Chinese companies, any other companies, because they all have to comply with the same exact accounting... they will be delisted on the exchanges," he said.

Read more: China fumes over United States ban on use of TikTok, WeChat

The move follows a recommendation by the President's Working Group on Financial Markets that had asked for measures that would enhance the listing standards on US exchanges in order to "protect investors against risks" from Chinese companies.

For a long time now, financial supervisors have had issues with Chinese corporations like e-commerce giant Alibaba, that do not want their books to be scrutinized by US auditors.

On Thursday, US President Donald Trump banned US firms from doing business with the Chinese-owned social media sites TikTok and WeChat within 45 days.

dvv/aw (dpa, Reuters)

Skip next section Explore more

Explore more

Carrie Lam

Hong Kong, China officials denounce US sanctions

Hong Kong, China officials denounce US sanctions

Washington's sanctions have further deteriorated US-China ties, more than a month after Beijing imposed a controversial national security law on the city. The Hong Kong government has called the sanctions "barbaric."
PoliticsAugust 8, 2020
Donald Trump

Many Germans believe China will replace US as superpower: survey

Many Germans believe China will replace US as superpower: survey

Is the United States losing its grip on world supremacy? Many people in Germany feel that it is and that China will be the country to take its place as dominant power in the coming decades, a new survey shows.
PoliticsJuly 14, 2020
Four large Chinese and two small US flags

Sieren's China: Tension rises between Washington and Beijing

Sieren's China: Tension rises between Washington and Beijing

Washington's verbal attacks on Beijing are becoming relentless. The US talk is unlikely to lead to an alliance of the "free world" against China, but it could impact the election campaign, says DW columnist Frank Sieren.
PoliticsAugust 1, 2020