Following US sanctions in August against Hong Kong officials deemed to undermine the autonomy and freedom of the city, state media reported Wednesday that China has sanctioned 28 American individuals, including Pompeo, Navarro, John Bolton and Stephen Bannon.
Earlier in the week, Beijing announced it would target US personnel in response to Washington bans triggered by mass arrests in Hong Kong.
“U.S. efforts to forge stronger ties with Taiwan will also be met with retaliatory actions.“said the Chinese Foreign Ministry.
Chinese Foreign Ministry spokeswoman Hua Chunying said that The United States had “blatantly intervened” in Hong Kong by imposing sanctions on six officials from mainland China and Hong Kong for the mass arrest of more than 50 politicians and pro-democracy activists in the city.
Hua said Beijing would impose reciprocal sanctions on US officials who were “those primarily responsible for the vile actions in Hong Kong“and his relatives.
“The United States must immediately stop interfering in Hong Kong affairs and immediately stop using various pretexts to interfere in China’s internal affairs, endangering China’s national security, “he said, adding that the United States was following a path of” error and danger. “
Implications for the market
The relationship between the US and Taiwan has upset Beijing, while the outgoing administration has strengthened its ties in recent times, including through arms sales and official visits.
Antony Blinken, nominated by U.S. President Joe Biden for secretary of state, promised major changes Tuesday after four years of Donald Trump’s foreign policy, but stressed that a priority will remain the same … China.
Additionally, Treasury Secretary candidate Janet Yellen said Tuesday that America is ready to “use the full range of tools” against China’s “abusive” practices.
Still, officials have been projecting a tough stance on the bilateral trade dispute under Biden.
The markets will be waiting for the escalation of the trade and currency wars.