Did the Senate Resolution on Hong Kong Disrupt a Possible China Trade Deal?
Let's talk about whether or not China and the U.S. will get a trade deal by the end of the year after the Chinese condemned a U.S. Senate resolution.
The resolution supports human rights in Hong Kong.
Donald Trump again threatened to increase tariffs if Washington and Beijing aren't able to negotiate a near-term trade agreement.
China's displeasure with the Senate resolution, known as the "Hong Kong Human Rights and Democracy Act," comes at a sensitive juncture in the trade negotiations following reports from China-backed media that Beijing won't accept an agreement that doesn't include the cancellation of tariffs from Washington.
Chinese Foreign Ministry spokesman Geng Shuang said the Senate move was designed to "bolster anti-China, extremist and violent radicals who attempt to disrupt Hong Kong," and cautioned that "all those attempts to interfere in or impede China's development will be in vain." Trump, meanwhile, told a cabinet meeting Tuesday that "if we don't make a deal with China, I'll just raise the tariffs even higher." The president added China would need to offer a deal "I like" in order to complete the first phase of the negotiations.
Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS portfolio, weighed in on whether or not we will get a trade deal.
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