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Free AccessMNI EXCLUSIVE: Ex-Trump Advisors Say HK Bill To Be Signed
By Evan Ryser
WASHINGTON (MNI) - President Trump is set to sign legislation designed to
support Hong Kong protestors despite suggestions he might veto the bill to help
clear a path for a phase one trade deal with China, ex-advisors told MNI.
"He is going to sign it," Derek Scissors, who has advised Trump said in an
interview.
Dan DiMicco, senior trade and economic adviser to Trump during the
presidential campaign, said: "If he doesn't sign and delays it, it would be a
mistake."
"I don't see any way that the President doesn't sign it."
The House of Representatives passed a bill Wednesday intended to support
protesters in Hong Kong and send a warning to China about human rights.
Trump, speaking on "Fox and Friends," said he was balancing priorities in
the broader U.S.-China relationship.
"We have to stand with Hong Kong, but I'm also standing with President Xi,
he's a friend of mine," Trump said Friday.
"The China deal is coming along very well. It's a question of whether or
not I want to make it," Trump said at an event at the White House Friday.
--SANCTIONS
The bill was unanimously approved by the Senate Tuesday and passed the
House Wednesday 417 to 1. The bill, which has angered Beijing, would require
annual reviews of Hong Kong's special status under U.S. law and sanction
officials deemed responsible for human rights abuses and undermining the city's
autonomy.
It would be difficult for Trump to veto the bill given that it passed with
almost no objections, even though a veto would require a two-thirds majority in
both the Senate and the House.
While the president would regularly be bound by a 10-day limit to sign or
veto, Trump could stall by asking the Senate for a slight modification in the
bill, delaying a signature, Scissors said.
The bill is tied to the trade talks and the timing of his signature will
depend on what the president decides to do with an additional 15% tariff on
about $300 billion in Chinese goods due to come into effect Dec. 15, Scissors
said, currently a resident scholar at the American Enterprise Institute.
"I don't think we are going to get the 12/15 tariffs," Scissors said. " I
think those get postponed indefinitely."
"The political debate [in the administration] is over the already-in-place
Sept. 1st tariffs which the Chinese want removed and that is politically riskier
for the president. That requires him to say 'I got more from the Chinese.'"
--MNI Washington Bureau; +1 202 371 2121; email: evan.ryser@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$U$$$,MI$$$$,MT$$$$,MX$$$$,MGQ$$$,MGU$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.