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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
MNI EXCLUSIVE: Trump To Sign Uighur Bill, Ex-Advisors Say
WASHINGTON(MNI) - President Donald Trump will sign a bill calling for a
tougher response to Beijing's treatment of its Uighur Muslim minority in
Xinjiang if it is sent to him as expected in December, former advisors to the
president told MNI.
Senator Marco Rubio's bill passed unanimously in the Senate in September
and was amended and strengthened in the House before passing Tuesday 407 to 1.
Rubio expects the bill to be sent to Trump by the time the Senate adjourns Dec.
20, MNI understands.
The bill, which will add to Beijing's irritants after Trump last week
signed another law aimed at supporting protesters in Hong Kong, is progressing
as the U.S. and China seek to conclude a Phase One trade deal and head off
further tariffs on Chinese goods due to kick in on Dec. 15. It aims to "to
address gross violations of universally recognized human rights, including the
mass internment of over 1,000,000 Uyghurs." It also bans the export of items
that can be used for surveillance of individuals and calls for "targeted
sanctions" on members of the Chinese government responsible for atrocities in
Xinjiang, and names the region's Communist Party secretary, Chen Quanguo.
"Trump should and will sign. No additional impact from where things are
today except to strengthen Trump's hand [in the trade talks]... It's the right
thing to do," Dan DiMicco, a senior trade and economic adviser to Trump during
the presidential campaign, told MNI.
--TARIFFS KEY
Derek Scissors, who has also advised Trump and is currently a resident
scholar at the American Enterprise Institute, agreed that the president would
sign the bill.
"I don't think the Xinjiang bill matters to trade talks. If the bill is
passed and signed, China will again announce some minor retaliation. But the
outcome of the talks will be almost entirely determined by whether President
Trump will roll back existing tariffs," Scissors said.
The bill contains a provision allowing the president to waive sanctions if
he determines it to be in the national interest.
Senator Rubio is currently working through the House changes in the Senate
to see if the committees who have jurisdiction over the new language - the
Senate Foreign Relations Committee and the Senate Banking Committee - will allow
the bill to come straight to the floor for either a vote or to be passed by
unanimous consent.
Senator Jim Risch, Chairman of the Senate Foreign Relations Committee, said
he is working with colleagues in the Senate to find a way to advance the
legislation.
Treasury Secretary Steven Mnuchin Thursday would not comment on whether he
would recommend Trump support the bill when asked by legislators on the House
Financial Services Committee.
--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,M$U$$$,MC$$$$,MT$$$$,MX$$$$,MFU$$$,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.