US Could Delist Chinese Stocks, says American Treasury Secretary

U.S. Treasury Secretary Scott Bessent on Wednesday signaled that delisting Chinese companies from American stock exchanges is a real possibility, as trade tensions between Washington and Beijing continue to climb.

During an interview on Fox Business Network, Bessent was asked directly by anchor Maria Bartiromo if the U.S. could delist Chinese stocks as part of its broader trade strategy.

“I think everything’s on the table,” Bessent responded, before expanding on the administration’s position. He added that decisions on capital and export controls — including moves like delisting — would ultimately be made by President Trump: “That will be President Trump's decision. At the end of the day, President Trump and Chairman Xi have a very good personal relationship and I'm confident this will be resolved at the highest levels.”

Trade War Expands Beyond Tariffs

While most of the focus so far has been on tariffs, Bessent’s comments suggest the White House is open to more aggressive financial tools — including cutting off Chinese firms from U.S. capital markets.

As of March 7, there were 286 Chinese companies listed on U.S. exchanges, collectively worth $1.1 trillion. While the number of listed companies is slightly up from last year, their combined market value has dropped sharply in recent weeks amid economic uncertainty.

A move to delist Chinese firms could also discourage future listings and redirect them to exchanges in London, Hong Kong, or elsewhere. One prominent example is Shein, the Chinese fashion giant once valued at $66 billion, which has shelved plans for a U.S. IPO due to mounting regulatory and political headwinds.

Harsh Words for China

Speaking later at the American Bankers Association, Bessent took a sharper tone, warning U.S. allies against aligning with China: “Any U.S. allies aligning with China on trade would be cutting your own throat,” he said.

He criticized China’s economic behavior, likening it to an unstoppable flood of low-cost production: “The biggest offender in the global trading system is China. ... For all of you who can remember that Disney movie with the brooms carrying buckets of water, that’s the Chinese business model. It never stops, they just keep producing and producing and dumping and dumping.”

Global Retaliation Builds

Bessent also noted that China has been the only major economy to escalate in response to Trump’s tariffs. Just moments after his remarks, the European Union approved its first wave of retaliatory tariffs — a signal that the global trade conflict is deepening.

Bessent’s remarks highlight that financial decoupling from China is no longer just a theoretical threat. While delisting hasn’t yet begun, the U.S. government appears ready to use every tool at its disposal — including financial markets — in its effort to reset global trade rules.