Americans are growing weary of witnessing the United States being taken advantage of in global business transactions. The acceptance of dishonest practices by foreign countries within our markets has left many perplexed, leading to the re-election of President Trump who promised to address this imbalance.

In his initial term, President Trump made efforts to create fair competition for American businesses and investors. One of these efforts included signing the Holding Foreign Companies Accountable Act, a bill that permits the Securities and Exchange Commission to remove Chinese companies from American stock exchanges if they do not comply with disclosing their financial records.

This move was logical – Chinese firms looking to benefit from American investments should be held to the same standards of transparency that American companies adhere to. Since the enactment of this law, Chinese companies have started to conform to American disclosure standards. Regulatory bodies have already imposed hefty penalties against Chinese entities that have manipulated financial records or violated laws to the detriment of American investors.

A considerable opportunity lies ahead to prevent foreign executives from manipulating our markets through insider trading. At present, American executives of publicly traded companies are obliged to disclose their intention to undertake certain transactions involving the company’s stock well in advance. The “cooling off” period gives outside investors time to consider their decisions, thereby reducing the advantage held by insiders.

Insider trading is a severe offense in the U.S., with many individuals facing imprisonment each year for attempting to deceive the system. However, foreign investors are not held to the same standard, leading to substantial losses for American investors. The proposed Holding Foreign Insiders Accountable Act aims to ensure that all executives must immediately disclose their trades, regardless of their nationality, bringing all executives to an equal level of transparency.

It is imperative that we do not enable foreign executives to take advantage of American investors through illegitimate trading practices. Americans deserve fair treatment and Congress must take the necessary steps to bring about this change. Let’s work towards safeguarding American investors from foreign executives who disregard our market regulations and exploit our system.