US Pres. Trump: Will take steps to sanction Hong Kong officials involved in eroding of autonomy

Eren Sengezer FXStreet

"China broke their word to ensure the autonomy of Hong Kong," US President Donald Trump told a news conference on Friday. "China's action on Hong Kong is a plain violation of treaty obligations."

Key quotes

"US is terminating the relationship with the World Health Organization."

"The US will redirect funds from WHO to other organizations."

"Issuing a proclamation to secure US university research."

"Instructing a working group to study differing practices of Chinese companies listed on US stock markets."

"Hong Kong is no longer sufficiently autonomous to merit special treatment from the US."

"Administration will begin process to eliminate policy exemptions that give hong kong special treatment."

"US will be revising state department travel advisory for hong kong to reflect the increased danger of surveillance."

"Will take steps to sanction Hong Kong officials involved in eroding Hong Kong's autonomy."

Market reaction

The market sentiment seems to have turned sour on these remarks. As of writing, the Dow Jones Industrial Average and the S&P 500 were down 0.85% and 0.63%, respectively.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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