Companies That Do Not Comply With The Accounting Standards Will Be Removed From The US Stock Markets
US Treasury Secretary Steven Mnuchin announced yesterday that Chinese and other foreign companies that do not comply with the US accounting standards will be removed from the US stock markets by the end of 2021.Mnuchin and other officials last week recommended that the US Capital Markets Board take steps to ensure that Chinese companies meet the same standards as US companies.This advice is part of what the Trump administration has taken to correct the imbalances between the two largest economies in the world.Tensions between the two countries have escalated in recent months due to China's handling of the coronavirus outbreak, Hong Kong and human rights issues.