Investing.com-- The risk of Chinese companies being forcibly delisted from U.S. exchanges has risen, but immediate action appears unlikely, according to TD Cowen analysts.

Analysts cautioned that while Treasury Secretary Scott Bessent did not dismiss the possibility when questioned, his comments should not be interpreted as a signal of imminent policy changes.

TD Cowen believes any delisting move would likely come directly from former President Donald Trump as part of broader economic decoupling efforts, rather than through lower-profile announcements.

Major Chinese companies listed in the U.S. include Alibaba Group (NYSE: BABA ), JD.com Inc (NASDAQ: JD ), and Baidu Inc (NASDAQ: BIDU ).

"Trump does not want Chinese firms to be able to take advantage of the liquidity of U.S. markets to raise the capital they need to compete against U.S. companies," TD Cowen analysts wrote.

However, they stressed that Bessent’s remarks—made in response to a direct question—do not confirm an immediate plan.

The report warns that delisting remains a plausible retaliatory tool if U.S.-China tensions escalate further.

"That means risk is higher this week than last week for action," analysts added.