(Reuters Breakingviews) - The U.S. Senate is taking pressure on China to a new level. A bipartisan bill doing the rounds on Tuesday would impose sanctions on Beijing officials and local banks if the country puts into place fresh curbs on Hong Kong. Tensions between the two superpowers are already high. The legislation would bump that up several notches.
Anger against China has united a usually divided Congress. The Senate plan would freeze U.S. property assets of individuals responsible for implementing a proposed Hong Kong national-security law. Unlike past legislation, Chinese banks doing significant business with those officials would also be targeted, cutting them off from American counterparts and limiting access to U.S. dollar transactions.
The pandemic has changed Washington’s calculus. Trump’s anger over Beijing’s handling of the coronavirus outbreak in Wuhan has led him to rethink the so-called Phase One trade pact, now saying it’s secondary to Covid-19.
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