- The US Congress passed this law this year
- Trump’s stance on China remains constant
Even in the last days of US President Donald Trump’s tenure, there is a strong attitude towards China. Trump has signed legislation exiting Chinese companies from the US Stock Exchange. This law empowers Chinese companies to withdraw from the stock exchange.
What does the new law say?
US President Donald Trump has signed the law ‘The Holding Foreign Company Accountable Act’. This law states that companies that do not follow the audit rules of the US Public Accounting Oversight Board for three consecutive years will not be listed on any US exchange.