The New York Stock Exchange is in the spotlight after a bewildering somersault in which it first said it would withdraw three Chinese companies to carry out an executive order from President Trump, only to revert four days later.
The NYSE turnaround drew criticism from President Trump’s government, which signed the order in November ordering a ban on securities trading that American officials say have ties to the Chinese military.
The request was one of Trump’s last saves to be tough on Beijing and put the NYSE in a difficult spot, as the exchange has long welcomed initial public offerings from Chinese companies.
During a trip to Egypt, Treasury Secretary Steven Mnuchin called NYSE President Stacey Cunningham to oppose the exchange operator’s reversal, a Trump administration official said. Mr. Mnuchin supports the NYSE’s original plan to remove companies from the list, he added.
News of his call to Mrs. Cunningham was previously reported by Bloomberg News. A NYSE spokesman, owned by Intercontinental Exchange Inc., declined to comment on Mnuchin’s call.