White House Considers China Steps as Trump OK Awaited on Bill – Bloomberg

Ross J Burland FXStreet

Bloomberg has explained that President Donald Trump has yet to sign legislation that would impose sanctions on certain Chinese officials over Hong Kong, but other moves against Beijing are possible before long.

Lead paragraphs

An administration official told reporters early Saturday that Trump is considering two or three actions against China, with a high probability something could be unveiled soon, more likely in days than weeks. The official didn’t specify what the actions might be or provide other details.

The Senate gave final approval on Thursday for the Hong Kong Autonomy Act, which would impose sanctions on Chinese officials cracking down on dissent in Hong Kong, after the House unanimously signed the bill on Wednesday.

Trump could sign or veto the bill; the White House hasn’t given a signal either way.

Market implications

This is stoking the flames surrounding strained relations between the two nations.

Risk-off is the playbook over such themes and AUD/USD trades as a proxy to such news.

Chart of The Week: AUD/USD traders enter the barroom brawl

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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