Friday, July 10, 2020
Martin Hennecke

Trump's HK move 'stalls trade deal'
A trade deal between the United States and China has been "stalled because of Hong Kong legislation" according to someone supposedly close to President Donald Trump's negotiating team. The deal was also snagged as time was needed to allow President Xi Jinping's domestic politics to calm, news website Axios claimed, citing an unnamed source. A foreign ministry official in Beijing had said last week that legislation signed by Trump that backed protesters in Hong Kong was a serious interference in Chinese affairs. And Beijing's priority in any deal with Washington is the removal of existing tariffs on Chinese goods, the Global Times reported. With the trade war in a 16th month and continuing to disrupt supply chains, more than a quarter of multinational firms have not made contingency plans, a survey by a subsidiary of courier giant DHL suggested. The survey had 267 responses from supply chain executives. And 48 respondents from engineering and manufacturing fields and 40 percent from the auto sector lacked plans.

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