The White House responded by saying That Chinese sanctions were ineffective and that President Trump would continue to be tough on China, as China announced a reciprocal response on Monday to 11 Americans following last week’s imposition of sanctions on top Officials in Hong Kong and China. Markets are also focused on the U.S. aid program, and there is still no word on when negotiations will resume. Despite the risk saga, gold has yet to find its footing, falling as low as $2015 on the strength of the dollar, which will be weighed down by TikTok’s move following news of a federal lawsuit as early as Tuesday.
The White House responded with reciprocal countermeasures from China
Despite media reports that China and the United States will hold trade talks on August 15, the two sides are still trading barbs ahead of the talks.
On Friday, the U.S. imposed sanctions on Hong Kong chief Executive Carrie Lam, the city’s current and former police chiefs and eight other senior officials for what the U.S. sees as their role in curtailing political freedoms in the city.
China offered countermeasures on Monday. Chinese Foreign Ministry spokesman Zhao Lijian said Tuesday at a regular press conference that the US side’s actions are blatant interference in Hong Kong affairs, gross interference in China’s internal affairs and grave violation of international law and basic norms governing international relations. China firmly opposes and strongly condemns such actions.
Zhao Lijian said, in view of the us is wrong, we have decided to from now on to bad performance on hong kong-related U.S. senator rubio, cruz, Holly, cotton, rice, Congressman Smith, as well as the President of the national democratic foundation cashman, President of the national association of international affairs democracy mead wei, President of the international republican institute, crisis, human rights watch, executive chairman of Ross, freedom house executive Roman abramovich has, a race of sanctions.
In response to China’s sanctions against 11 US officials, the White House spokeswoman Kayleigh McEnany told a news conference that China’s move did not make sense and that President Trump would continue to get tough with China.
“Instead of taking meaningful action, such as immediately repealing the national security law [in Place in Hong Kong] and halting the systematic repression of uighurs, China has chosen to respond with such symbolic and ineffective actions [referring to sanctions against Americans],” White House spokeswoman McEnany said at a briefing on Monday afternoon local time.
“More and more countries around the world are asking China to take concrete action,” she added.
“The President is determined to stand up to China and will continue to do so.” McKenney said. She did not say whether the U.S. government would respond.
Trump talks on trade deal: ‘Not much’
Despite the growing conflict between China and the US, the first phase of the trade agreement signed on January 15 this year is still being implemented by both sides, which is the only consensus between China and the US in the field of trade and economic ties.
On August 15th the two countries will hold high-level talks to assess compliance with the first phase of the trade agreement, according to Wall Street.
The Wall Street Journal said the meeting would be conducted via video conference.
Reuters also noted that senior U.S. and Chinese officials will hold a conference call on Saturday to assess the implementation of the first phase of the trade agreement and possibly express their displeasure with each other.
‘We encourage China to fulfill its obligations under the first phase of the agreement and fulfill its commitments under the agreement,’ a White House spokesman said at a previous news conference when asked about China’s failure to meet its promised energy procurement targets.
Yi Gang, governor of the People’s Bank of China (PBOC), said On Thursday that the first phase of the China-Us economic and Trade Agreement (APEC) will continue to be well implemented.
“No matter how the international situation changes, the most important thing is to do our own thing well and unswervingly deepen financial sector reform and opening up,” Mr Yi said. First, we need to continue to implement the first-phase economic and trade agreement between China and the United States, and implement the financial reform and opening-up measures announced in recent years. For example, we need to remove restrictions on the share ratio of foreign investment in securities, fund management, futures, life insurance and other fields. Abolishing restrictions on the investment quota of qualified foreign investors and RMB qualified foreign investors; Approved the entry into the Chinese market of Express, mastercard, Fitch and other institutions. Second, we will continue to fully implement the management system of pre-establishment national treatment plus a negative list and unify the foreign exchange management policy of opening up the bond market.”
Separately, ON Monday, U.S. President Donald Trump said again that the first phase of the trade deal would mean “very little.” He added: “I don’t know if I want another deal with China.”
Trump made the comments at a news conference. In particular, Monday’s briefing was interrupted by gunfire near the White House.
US President Donald Trump was escorted out of the White House press briefing room by secret Service agents after a shooting broke out near the White House on Sunday evening. Trump held a news conference in the briefing room that evening and was suddenly escorted away by secret Service agents. A few minutes later, Mr. Trump returned to the briefing room to continue his press conference. He said the shooting outside the White House, in which secret Service agents opened fire on an armed suspect, “seemed to be well under control.” The suspect was taken to a hospital in an unknown condition. No one else was injured.
The Secret Service later issued a statement on social media saying that the shooting took place on the west side road of the White House and that law enforcement officers were at the scene.
Us media quoted sources as saying the suspect was a man who had been shot in the chest. It is unclear whether the cause of the shooting.
In addition to the trade situation, markets are still waiting for negotiations on a U.S. aid package. President Donald Trump signed an executive order on Saturday partially reinstating enhanced unemployment benefits for tens of millions of unemployed Americans after negotiations in Washington over the next round of fiscal stimulus broke down.
The Trump administration and Congress could reach an agreement on a coVID-19 rescue plan as early as this week if Democrats are “reasonable,” U.S. Treasury Secretary Steven Mnuchin said in an interview on CNBC on Monday.
“We didn’t have an agreement on Capitol Hill last week, but President Trump signed those executive orders. So we are getting some stimulus, but not enough, “said Ed Moya, market analyst at OANDA for the quarter.
Gold short – term acceleration low buying opportunity?
Gold prices continued to come under pressure in early Asian trading on Tuesday, falling briefly to near $2015 as the strong U.S. dollar held back gains, despite rising trade tensions between China and the U.S.
CMC Markets market analyst David Madden said the dollar’s rally had prompted some investors to sell gold to take profits. “There has been a big rally in the gold market recently and the weakness of the dollar has been one of the big drivers of gold prices, so now it’s having the opposite effect.”
Stephen Innes, chief market strategist at AxiCorp in New York, said the dollar’s rally has affected investors’ attitude toward gold and made them more inclined to take profits after big rallies. “The correction in gold prices is justified, depending on the market’s view of the dollar, and the current tensions on trade issues are positive for the dollar.”
“This is just a natural correction in this rally, people are just taking profits because gold has gone up so quickly and the dollar has been going up for the last two days,” said Michael Matousek, chief trader at U.S.Lobal Investors in New York.
Gold has surged 34 per cent this year amid a rising number of new cases, prompting unprecedented stimulus measures by the authorities.
“Gold will benefit from the fact that governments around the world are not going to stop printing money anytime soon to fight the epidemic,” said Bob Haberkorn, senior market strategist at RJO Futures. Gold’s next target is $2,090 an ounce.”