July 02, 2020

Bill targeting banks over China's Hong Kong law passes U.S. Senate

Featuring Elizabeth Rosenberg

Source: Reuters

Journalist Patricia Zengerle

The U.S. Senate unanimously approved legislation on Thursday to penalize banks doing business with Chinese officials who implement Beijing’s draconian new national security law on Hong Kong, sending it to the White House for President Donald Trump’s signature.

The House of Representatives on Wednesday also passed the bill without opposition, a rare example of overwhelming bipartisan support reflecting concern over the erosion of the autonomy that had allowed the former British colony to thrive as China’s freest city and an international financial center.

The United States and China have been at loggerheads for months over the handling of the coronavirus pandemic and Beijing’s harsh response to protests in Hong Kong. Washington has also sought to put more pressure on China over mistreatment of Muslim Uighurs in the Xinjiang region.

Read the full story and more in Reuters.

Authors

  • Elizabeth Rosenberg

    Senior Fellow and Director, Energy, Economics and Security Program

    Elizabeth Rosenberg is a Senior Fellow and Director of the Energy, Economics, and Security Program at the Center for a New American Security. In this capacity, she publishes a...