Investing.com -- TD Cowen is warning that the threat of Chinese companies being forced off U.S. stock exchanges is growing, placing the odds of delisting at 70% amid escalating pressure from Congress and President Trump.

“There is a renewed push in Congress to force U.S. exchanges to de-list Chinese companies,” analysts wrote in a note Thursday, adding that the risk has “only increased as President Trump has focused his trade war on China.”

TD Cowen noted that the latest effort is being led by Rep. John Moolenaar and Sen. Rick Scott, who have urged SEC Chair Paul Atkins to take action against major Chinese firms like Alibaba (NYSE: BABA ).

The lawmakers argue that these companies “use U.S. investor capital to advance the interest of the Chinese Communist Party,” expose American investors to “unacceptable risk,” and are legally required to share technology with China’s military.

While Congress is focusing on pressuring the SEC, TD Cowen sees a faster and more impactful route through executive action.

“The better option is for President Trump to issue an executive order declaring more Chinese companies have ties to the Chinese military,” the firm said.

They add that such an order could place the companies on the 1260H list—the U.S. government’s official roster of firms linked to the Chinese military—and bar American investors from holding their shares.

TD Cowen added that Trump could go further, using national security powers to mandate U.S. exchanges to delist the targeted companies outright.

The SEC route, by contrast, is viewed as slow and uncertain. “The SEC process to remove Chinese companies from U.S. exchanges could take years,” TD Cowen noted, requiring repeated audit access violations before action is taken.

Even if challenged in court, an executive order could prompt Congress to “formalize the ban,” TD Cowen concluded.