The US President Donald Trump signed a law restricting the placement of Chinese shares on exchanges USA. This is stated in a White House statement, TASS reports.
The Foreign Companies Accountability Act stipulates that businesses listed on US exchanges must prove that they are not under the control of foreign authorities. Also, foreign companies will have to report to US regulators in the same way as US companies.
The House of Representatives of the US Congress unanimously adopted the bill in early December. The document notes that the project should solve a long-term problem that has exacerbated amid trade disputes between the United States and China.
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 >