The Trump administration is looking at various responses to China’s national security law on Hong Kong through the president’s working group on capital markets, U.S. Treasury Secretary Steven Mnuchin said on Thursday, Reuters reports. These incude some measures that could restrict capital flows through Hong Kong. Mnuchin told reporters he expected China to meet the terms of the phase one trade deal, which called for an additional US$200 billion in Chinese purchases of U.S. goods and services over the next two years, despite a sharp downturn in the global economy caused by the pandemic.

Source: The Standard June 12, 2020 02:37 UTC