China foreign ministry: US will 'pay the price' over HK and Xinjiang bills
More fighting words coming out from ChinaUSD/JPY has been dragged to a session low of 108.44 now on the back of the comments by the Chinese foreign ministry here.
The bill on sanctions against Chinese officials related to human rights abuses in Xinjiang may be a key line in the sand as this really steps beyond the lines of internal affairs - or at least China will definitely view it as such a case.
It just adds to more hurdles for both sides to overcome to get towards a compromise on trade and other issues. And when you consider how progress has stalled in recent weeks, optimism will slowly fade even more as this kind of rhetoric keeps up.