China’s Foreign Ministry: US ban on Xinjiang goods to ‘severely disrupt’ ties
|The US’ law banning imports from Xinjiang would “severely” damage ties and escalate a dispute between the nations over human rights, China’s Foreign Ministry spokesman Zhao Lijian warned late Thursday.
Key quotes
“If the act is implemented, it will severely disrupt normal cooperation between China and the US, and global industrial and production chains.”
“The US (should) not implement the Uyghur Forced Labor Prevention Act and otherwise trying to “hobble China’s development.”
“If the US insists on doing so, China will take robust measures to uphold its own rights and interests as well as its dignity.”
This comes as the US authorities are ready to implement a ban on imports from China's Xinjiang region when a law requiring it becomes enforceable later on June 21.
Market reaction
Risk sentiment remains buoyed amid holiday-thinned market conditions. The S&P 500 futures add 0.13% on the day. Although AUD/USD is failing to capitalize on the risk-on flows, testing lows near 0.7255, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.