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WASHINGTON, Aug 10 (Reuters) – US Treasury Secretary Steven Mnuchin said Monday that companies from China and other countries that do not meet accounting standards will be delisted from American exchanges from late 2021. .
Mnuchin and other officials recommended the measure to the U.S. Securities and Exchange Commission (SEC) last week to ensure that Chinese companies meet the same standards as American firms.
“Starting late next year … everyone has to adhere to the same accounting,” Mnuchin said during a briefing at the White House.
The recommendation is part of an attempt by the Donald Trump administration to correct what it calls major imbalances in ties between the world’s two largest economies. Tensions between the two countries have flared in recent months over issues such as China’s handling of the coronavirus outbreak, Hong Kong and human rights.
Trump said China is also not meeting its commitments to buy more American goods under a Phase 1 trade deal signed in January, though he said purchases should increase next year.
(Reporting by Jeff Mason, Andrea Shalal and Alexandra Alper. Edited in Spanish by Rodrigo Charme)
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