Senate Majority Leader Mitch McConnell downplayed any benefit of forcing Chinese companies off of U.S. stock exchanges.
White House economic advisor Peter Navarro dismissed the idea as well in an earlier CNBC interview, saying that reports suggesting that might happen are "fake news." Chinese Foreign Ministry spokesman Greg Shuang also told reporters Monday that any delisting moves "will harm the interests of Chinese and American companies and people, create turmoil in financial markets, and endanger global trade and economic growth," according to Reuters.
The U.S. Treasury assistant secretary for public affairs said in a statement over the weekend that "the administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time. We welcome investment in the United States." The U.S. government added Huawei to the Entity List in May, meaning American companies could no longer do business with the Chinese manufacturer. McConnell said they were "concerned about Huawei" but that the U.S. had to balance that with our commercial interests."
"We don't want to make it more difficult for American companies to do business in China and for Chinese companies to do business here, but these national security implications are important," he said.
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