As President Trump’s trade negotiations with China escalate into a full-blown trade war, the United States possesses a narrow but powerful tool to exact pressure on the Communist regime by targeting the capital-raising efforts of some of its largest corporations.Â
Since 2013, Chinese firms have been able to access the most prestigious stock markets in the world in New York while being able to flout auditing and transparency requirements that are imposed on every other listed company. By rescinding broad agreements that permit this, President Trump could deal a major blow to big Chinese players in tech and online commerce — industries at the forefront of U.S.-China competition — such as Alibaba, JD.com, Tencent, and XPeng.
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