The United States may move to delist Chinese companies from American stock exchanges, according to a report by Fox Business correspondent Charles Gasparino, who cited sources familiar with the matter.

“Sources: [President Donald] Trump Administration is moving toward a possible delisting of Chinese public co shares on US exchanges,” Gasparino posted on X.

More than 300 Chinese firms are currently listed on U.S. stock exchanges, including major companies such as Alibaba, Sinopec, JD.com, and NetEase.

The report comes amid an intensifying trade war between Washington and Beijing. On April 2, President Trump announced new tariffs on goods from 185 countries and territories, including a 34% duty on imports from China.

China responded on April 10 by imposing a 34% tariff on all U.S. exports.

Subsequently, Trump pledged to raise tariffs on Chinese products to 104% until a trade agreement is reached. In retaliation, China increased its tariffs on U.S. goods from 34% to 84%.

Trump then escalated further, announcing plans to raise tariffs on Chinese imports to 125%. According to a Thursday report from CNBC, citing a U.S. official, the total U.S. tariff burden on Chinese goods has now reached 145%.