Trump passes a bill that would prevent a Chinese company from being listed in the US.

President of the United States, Donald Trump – Photo: BLOOMBERG

Specifically, Chinese companies could be banned from listing in the US if US regulators cannot verify their financial audit reports, according to Bloomberg.

This move is expected to continue to increase tensions between the United States and China in the final months of Trump’s term.

The bill recently signed by Trump could affect large Chinese companies such as Alibaba and Baidu.

Trump has long criticized China for what he calls unfair trade practices and has imposed billions of dollars in tariffs on imports from China.

The listing ban bill has received support from both Democrats and Republicans in the House of Representatives this month after it was easily passed in early May in the Senate.

While the new law will apply to all foreign companies, supporters say its goal is to target China, according to Bloomberg.

Although the new law includes a gradual implementation period, sanctions that will begin after three consecutive years of non-compliance can cause real harm to Chinese companies that fail to meet auditing standards. American mathematics.

Earlier, after the US House of Representatives passed the bill, Chinese Foreign Ministry spokesperson Hua Xuan Oanh said that China “opposed the politicization of securities management,” at the same time. time called call cooperation to the interests of hospital investors.

The signing and ratification of this listing ban bill is the latest in a series of recent moves against China by the administration of US President Donald Trump.

Trump has given instructions to restrict travel visas for 92 million Communist Party members, who already have a 10-year visa, will be reduced to one month.

The US Department of Homeland Security also said that US customs officials will stop shipments containing cotton and cotton products from China’s Xinjiang Manufacturing and Construction Company.