China will revoke visa-free entry to Hong Kong and Macau for U.S. diplomatic passport holders, reports Bloomberg. People in the executive and legislature branches and their immediate families, as well as non-government organizations, are among those targeted as China retaliates measures by the Trump administration against Hong Kong.
- The U.S. announced sanctions Monday against 14 members of China’s National People’s Congress, as President Donald Trump piles pressure on Beijing before President-elect Joe Biden takes office.
- The U.S. has also restricted travel visas for Communist Party members and banned cotton imports from a military-linked firm in Xinjiang.
- Hong Kong has experienced political upheaval in recent weeks, and last week, China passed a resolution allowing the disqualification of its lawmakers deemed sufficiently disloyal.
- Beijing’s ability to hit back against U.S. sanctions has been limited by the dollar’s dominance in international finance.
U.S. dollar is currently declining against the Chinese Yuan. USDCNY is down 0.01%
