In latest China jab, US drafts list of 89 firms with military ties – Reuters
Early Monday, Reuters came out with the news suggesting the blacklisting of 89 Chinese aerospace and other companies by the Trump administration, as per the list seen by the reporter.
The news mentions that the list is included in a draft rule that identifies Chinese and Russian companies the US considers “military end-users,” a designation that means US suppliers must seek licenses to sell a broad swath of commercially available items to them.
The piece also says, “According to the rule, applications for such licenses are more likely to be denied than granted.”
FX implications
Although neither the US Commerce Department nor the Chinese Foreign Ministry was up for comments, headlines like his weigh on the market’s risk-tone sentiment. Though, the latest optimism concerning the coronavirus (COVID-19) vaccine seems to help S&P 500 Futures and Asia-Pacific stocks to print mild gains by press time.
Author
Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
