Key Points
- China will likely face U.S. sanctions over Hong Kong national security law [2]
- China’s National People’s Congress continues
“Rising tensions between the U.S. and China around Hong Kong, trade policy and who is responsible for the 2020 economic dislocation is threatening to end the post March-trough rally,” said Perpetual analyst Matthew Sherwood. [1]
The U.S. Commerce Department responded by adding 33 Chinese companies and other institutions to a blacklist for human rights violations and to address U.S. national security concerns. [1]
The U.S. government will likely impose sanctions on China if Beijing implements national security law that would give it greater control over autonomous Hong Kong, White House National Security Advisor Robert O’Brien said Sunday. [2]
urrency strategists at the Commonwealth Bank of Australia said in a morning note that the dollar faces upside risks this week. “Rising tensions can put the US-China Phase One trade deal at risk. Although not our central scenario, if the US or China were to withdraw from the Phase One deal, (the dollar) would sharply appreciate,” they wrote. [3]
Sino-U.S. strains