White House Weighs Economic Retaliation Against China As Hassett Warns “All Options Are On The Table”

While Secretary of State Mike Pompeo slams China over its planned ‘National Security’ law, which clearly aims to suppress all political dissent and “foreign influence” in Hong Kong, while hinting that the special trade status enjoyed by the city-state might soon be revoked, White House economic advisor Kevin Hassett appears on CNN Friday to play ‘bad cop’ to Pompeo’s ‘good cop’.

As Huawei scrambles to find suppliers not based in the US, Hassett insisted that the White House is “absolutely not going to give China a pass” and is already considering any and all forms of economic punishment, including, presumably, more laws to force the de-listing of Chinese companies on US exchanges, or even the cancellation of US debt held by Beijing.

“We’re absolutely not going to give China a pass. All the options are on the table,” Hassett said.

He added that the new law was a “scary move” as it shows Beijing is starting to care less and less about the objections of the West.

“And that’s going to be very costly to China and the people of Hong Kong. So, yeah, I think it is a very difficult, scary move and that it is something that people need to pay close attention to,” he said.

Ultimately, a less-free Hong Kong will hurt the city-state’s status as a financial hub.

“If Hong Kong stops being Hong Kong, the open place it is, then it is no longer going to

Keep reading this article on Zero Hedge - Blog.

Leave a Reply