(PatriotHeadline)- With a Biden administration now just days away, President Donald Trump’s administration is working overtime to ensure that the United States is protected from the incoming Democrat’s obsession with communist China.
According to a report from Reuters, the New York Stock Exchange is expected to uphold the delisting of three major Chinese telecommunications companies after once saying they would reverse the decision. The upholding of the decision from the Trump administration is a blow to Chinese companies that have long profited from the United States.
Treasury Secretary Steven Mnuchin played a role in the decision to uphold the delisting after he publicly announced that he disagreed with the NYSE’s decision to put the companies back.
Who knows what would have happened if members of the Trump administration had kept quiet?
The three companies, China Unicom Hong Kong Ltd, China Telecom Corp Ltd., and China Mobile Ltd., were all set to be delisted as of January 11 after President Donald Trump signed an executive order in November that banned any company associated with the Chinese military to be publicly traded in the United States. However, on New Year’s Eve, the NYSE initially reversed the decision after a meeting with the Office of Foreign Assets Control at the Department of the Treasury.
And it was during this meeting that Mnuchin disagreed with the decision.
Reuters claimed on Wednesday that anonymous sources who wished to protect their identity said that Mnuchin called Stacey Cunningham, the president of the NYSE, to explain why the decision to relist the firms was a bad idea. And, after the exchange “sought further confirmation on the matter,” they decided the following day to uphold the president’s executive order.
At the time there were just two weeks until Biden’s inauguration, making this one close call.
The decision would not likely have been made by a Biden administration after the former vice president spent his 2020 presidential campaign arguing for a better relationship with communist China – despite the nations’ repeated efforts to undermine the United States and its constant human rights violations.
The delisting of the three Chinese telecoms companies stripped $5.6 billion from their value on the Hong Kong exchange, which proves a big hit to China.
But will it be enough to make the communist Chinese leadership listen?
Or will Biden’s capitulation undo the hard work of the Trump administration?
We’ll see over the next four years.