US-China tensions intensify as Trump pursues financial decoupling

Washington threatens to expel Chinese companies from American stock markets

The administration of President Donald Trump is pressuring Chinese companies listed in the U.S. over non-compliance issues, threatening financial links between the two countries. © AP

YOICHI TAKITA, Nikkei senior staff writer

September 7, 2020 15:02 JST

TOKYO -- Antagonism between the U.S. and China has moved beyond trade and technology and is now intensifying in the financial sector as well.

Global attention has been drawn to the Hong Kong Autonomy Act, signed into law by U.S. President Donald Trump. It imposes sanctions, including seizure of assets and exclusion from dollar-denominated account settlements, on officials and entities in the city and mainland China that are deemed to aid in the violation of the former British colony's guaranteed autonomy.