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Bloomberg
Chinese state media said the government will soon publish a list of “unreliable entities†that could lead to sanctions against US companies, signalling trade talks between the two nations are increasingly under threat from disputes over human rights in Hong Kong and Xinjiang.
The Communist Party-backed Global Times said in a tweet that the list was being sped up in response to a bill sponsored by Republican Senator Marco Rubio requiring sanctions against Chinese officials involved in alleged abuses of Uighur Muslims in the far west region of Xinjiang. Beijing has threatened to publish such a list of companies since May, after the US placed restrictions on Huawei Technologies Co.
A response from China on the Xinjiang issue that hits US companies would add another obstacle as the world’s two biggest economies struggle to finalise a phase-one deal to de-escalate their trade war. Investors are looking for any signs of progress ahead of a December 15 deadline for President Donald Trump to add yet more tariffs on Chinese imports.
Stocks were mixed in Asia as investors contemplated the latest developments in China, as well as Trump’s move to threaten new levies on France and slap steel tariffs on both Brazil and Argentina.
Hong Kong Bill
Trump said that trade talks with China had been complicated by legislation he signed recently threatening sanctions on officials who undermine Hong Kong’s semi-autonomy from Beijing. That legislation, along with a bill that bans the export of crowd control devices to Hong Kong police seeking to stem pro-democracy protests, led China to threaten sanctions on some human rights organisations and halt US naval visits to the city.
Global Times Editor-in-Chief Hu Xijin said the Xinjiang bill would spur more retaliation from China, that US officials may face visa restrictions and US diplomatic passport holders could be banned from entering the province.
No deadline for trade deal, says Donald Trump
Bloomberg
President Donald Trump signalled he would be willing to wait for another year before striking a trade agreement with China, casting doubt on the likelihood of a phase-one accord between the US and China within weeks.
Trump told reporters in London he has no deadline for a potential deal, suggesting that in some ways it could be better to wait even until after the US presidential election in November, 2020. However, he said China wants to do a deal now, and he would see if the deal was right.