Trump Removes Chinese Companies Out of American Stock Exchanges

Trump Removes Chinese Companies Out of American Stock Exchanges US President Donald Trump removes Chinese companies from American stock exchanges. Trump approved a bill that could remove Chinese firms from US stock exchanges if they fail to comply with auditing standards. In the statement made by the White House, it was stated that Trump signed the "Foreign Companies Liability Act". Under this law, foreign companies will be prevented from being listed on American stock exchanges if they fail to comply with the audits carried out by the US Public Accounting Oversight Authority 3 times in a row. It is stated that the law, which is recorded as targeting Chinese companies, will also affect large companies such as Alibaba, Baidu, Pinduoduo and PetroChina. In addition, the law requires public companies to disclose whether they are under the control of a foreign government.