The US House of Representatives unanimously passed a bill that could deprive Chinese companies of the opportunity to list their shares on US exchanges. This was reported on Wednesday, December 2, by agency Reuters .
The document notes that the project should solve a long-standing problem, aggravated by trade disputes between the United States and China. China, according to the authors of the bill, refuses to provide American regulators with access to audit reports. The new law will oblige Chinese companies operating in the United States to undergo the same audits as American ones.
Foreign companies listed on US exchanges will also be required to provide proof that they are not owned by a foreign government or under government control.
Previously likely winner of the US presidential election Joe Biden said that he does not intend to immediately end the trade war with China and cancel the current head of state’s Donald Trump trade duties.
In January, the United States and China signed the first leg of a trade agreement under which the White House retained tariffs of 25 percent on $ 250 billion in Chinese goods. Also, 7.5 percent tariffs on goods worth $ 120 billion remained in force. Negotiations on the second part of the deal amid the coronavirus pandemic have not led to a concrete result.
The main reasons for the start of the trade war at the end of 2017 were the large trade deficit in bilateral relations between the United States and China (which was unhappy with US President Donald Trump), as well as Washington’s claims against Beijing in terms of intellectual property rights violations. p >