US blocks import of Chinese goods it says are made with forced labour – Washington Post
|The Washington Post has reported that the Trump administration has banned the import of certain apparel and computer parts from China, saying they are made by forced labourers from the Xinjiang region. The move adds five new Chinese entities to an import blacklist the United States has used several times in recent years to combat what it calls China’s widespread practice of forcing ethnic minorities from the Xinjiang region to work under involuntary conditions. US Customs and Border Protection said the newly banned entities include manufacturers of hair products, cotton, apparel and electronics. Previous targets have included producers of toys, peeled garlic and artificial sweeteners. “The Trump Administration will not stand idly by and allow foreign companies to subject vulnerable workers to forced labour while harming American businesses that respect human rights and the rule of law,” acting CBP Commissioner Mark Morgan said in a statement. “These actions send a clear message to the PRC that it is time to end its practice of state-sponsored forced labour and to respect the human rights of all people,” Secretary of State Mike Pompeo said in a statement. Risk sentiment is otherwise buoyed by COVID 19 vaccine hopes, as fickle as it may be, however. Trade wars will be a theme that will potentially build into the US elections in November. Lead paragraphs
Market implications
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.