Trumpâs Ban on Chinese Stocks Roils Investors
Executive order was meant to hit Chinaâs military, but has frustrated some U.S. investors
The order bans Americans from trading the securities of dozens of Chinese companies such as China Mobile.
Photo: Mark Schiefelbein/Associated Press
By Jan. 10, 2021 5:30 am ET
U.S. investors have borne the brunt of an executive order signed by President Trump that was meant to hit the Chinese military by curtailing access to American dollars.
The order, which takes effect Monday, bans Americans from trading the securities of dozens of Chinese companies. People who invested in those stocks are upset after a confusing series of events over the past two weeks. During that time, U.S. officials, the New York Stock Exchange and brokerage firms sent mixed signals over which stocks would be prohibited and.
Human Rights
Some of the first China-related actions next year could be related to human rights front, including China’s treatment of Uighurs in Xinjiang and China’s crackdowns on Hong Kong.
Among the first measures could be passage of the Uyghur Forced Labor Protection Act, which has already passed the House and awaits a vote in the Senate. The legislation could impact everything imported into the U.S. that is made in Xinjiang or in facilities with so-called pairing agreements where Uyghur workers are often moved between factories, says Anna Ashton, vice president of government affairs for the U.S.-China Business Council.