HK bill reveals US' intentions to complicate trade talks - Global Times

Author: Justin Low | Category: News

The report cites some remarks from Chinese authorities as well as analysts who are taking stock of the situation

US China
Citing remarks from the Chinese foreign ministry, it says that the signing of the HK bill reveals "vicious intentions" by the US to sabotage the stability and prosperity of HK and disrupt the progress in China's national rejuvenation.

Adding that the passing and signing of the bill shows that the hawkish political power in Washington is strong. Further noting that Trump may selectively implement provisions of the act as leverage for ongoing trade negotiations, but he may also hold sanctions that are unfavourable depending on the state of talks.

The full report can be found here.

Markets have been a bit more cautious and tepid since Trump made the decision to sign the bill but he didn't really have much choice really. There was no way he could have vetoed it and if he did nothing, the bill would have turned into law anyway on 3 December.

The key question now will be how this will impact trade negotiations from hereon. I still don't think it is a major hurdle to get a "Phase One" deal across the line but perhaps it will cast more doubts about the viability of anything beyond that.
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