The U.S. Sets a Bad Mood for the Talks with Visa Restrictions-Blacklist Sino Companies

The U.S. has set a bad mood for the upcoming trade talks with visa restrictions and the blacklist on 28 Chinese companies.

The high-level trade talks between the U.S. and China will be held on October 10-11 in Washington. As for China, the negotiating team is led by Vice-Premier Liu He while the U.S. has the U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Many had hoped that something good could happen after the talk. A ray of hope or a glimpse of promising sign to let investors know that both parties are on the same page.

However, prior to the negotiation, the U.S. had done it again. Just like last time that Trump administration imposed a tariff on Chinese imports worth 250 billion dollars in September as about 112 billion dollars had already been levied while the rest will take effect on October 15 if the trade talks do not go well.

This time, the Trump administration placed visa restrictions on Chinese officials that were believed to be responsible for, or complicit in, the detention and abuse of Muslim minorities in China. The move made by Trump administration was right after the blacklist on 28 Chinese companies alleged to be involved in surveillance and detention of minority groups in China.

 

Apparently, the Chinese would start the negotiation with not-so-good mood, but according to Bloomberg, China is still open to agreeing on a partial trade deal with the U.S., which caused Dow Jones Future to rally over 200 points.