Of course it can. Here's one way they can do it: (claim) non-compliance with some (new) regulations.
In June, U.S. lawmakers from both parties introduced a bill to force Chinese companies listed on American stock exchanges to submit to regulatory oversight, including providing access to audits, or face delisting.
Chinese authorities have long been reluctant to let overseas regulators inspect local accounting firms - including member firms of the Big Four international accounting networks - citing national security concerns.
“Beijing should no longer be allowed to shield U.S.-listed Chinese companies from complying with American laws and regulations for financial transparency and accountability,” Republican Senator Marco Rubio said at the time.
One of the sources briefed on the matter said the idea of delisting was the latest salvo in this longstanding dispute.
“This is a very high priority for the administration. Chinese companies not complying with the PCAOB (Public Company Accounting Oversight Board) process poses risks to U.S. investors,” the source said.
This before it even gets to putting any outright/explicit sanctions on the companies involved. Which also can be done. The US government has broad power to blacklist foreign entities in all sorts of ways, from total bans on transactions like Iranian entities are facing to more limited bans that impose prior US government approval, like what Huawei is facing right now.