Bloomberg News reported earlier in the day that Trump administration officials are weighing delisting Chinese companies from American stock exchanges and putting a limit on U.S. government pension funds’ exposure to the Chinese market.
China’s currency, the yuan, weakened to 7.15 against the dollar on the news.
The moves by the White House would come as the U.S. and China are set to resume trade talks on Oct. 10 in Washington after both countries slapped billions of dollars of tariffs on each other’s goods. Delisting Chinese companies would affect billions of dollars in investment pegged to major indexes, just as the Chinese government is taking steps to increase foreign access to its markets.
A White House spokesperson declined to comment.
The exact details have not been worked out yet and the plan is subject to President Donald Trump’s approval, Bloomberg News reported, citing people familiar with the matter. Trump had greenlit the discussion, the report said.