Trump: China raided our factories and gutted our industries

[beijingwalker]

Trump: China raided our factories and gutted our industries
Fri 29 May 2020 18:50:18 GMT

Strong comments to start, more to come. He brought Pompeo and Mnuchin, which is a hint of something big coming.

• Chinese government has continually violated its promises to us
• China unlawfully claimed territory in Pacific ocean
• China's coverup of the Wuhan virus allowed it to spread all over the world

We're still in the preamble but the tough talk has the market worried.

• We will be terminating our relationship with the WHO, redirect elsewhere

That's not a factor for markets.

• Will issue proclamation on US university research
• Will ask for study to protect US investors (presumably from investing in Chinese stocks)

This was all rumored and isn't a big deal.

• Have started the process of eliminated policy exemptions that give Hong Kong special treatment
• Directing his administration to "begin the process of eliminating policy exemptions that give Hong Kong different and special treatment" under a "full range" of agreements, from extradition to trade to technology. (Congress has much of this power)
  
• Will sanction directly or indirectly individuals involved in suppressing Hong Kong

All this was rumored or reported.

https://www.forexlive.com/news/!/trump-china-raided-our-factories-and-gutted-our-industries-20200529