[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]
President Donald Trump is scheduled to carry a press convention on China on Friday from the White House Rose Garden as tensions with the nation proceed to escalate.
Stocks dropped after Trump introduced information convention on Thursday on fears that the president will impose new sanctions or commerce obstacles. Ahead of the convention, the Dow Jones Industrial Average fell to its session low, after giving up 300 points on Thursday in the hour after the news hit.
Trade fears have risen because the U.S. and China proceed feud over blame for the spreading coronavirus pandemic that tanked international markets in March and has threatened to stall progress on the Phase 1 commerce deal reached earlier this 12 months.
Relations have been strained additional this week after China imposed new nationwide safety laws on Hong Kong, defying Washington and prompting Secretary of State Mike Pompeo to report back to Congress that he not seen the previous British colony as autonomous from the remainder of China.
Separately, the House of Representatives on Wednesday handed laws calling for sanctions on Chinese officers chargeable for human rights abuses in opposition to Uighur Muslims within the nation’s western area of Xinjiang. The Senate voted to approve the laws earlier this month. Trump has not stated whether or not he intends to signal it into regulation.
While Trump has harshly criticized the Chinese over their dealing with of Covid-19, he has up to now been reluctant to take motion that may flip the connection between the U.S. and China into outright hostility or jeopardize the Phase 1 commerce deal that has been touted as one in all his administration’s signature achievements.
The presidential election between Trump and former Vice President Joe Biden, the obvious Democratic nominee, takes place in lower than six months.
— CNBC’s Christina Wilkie contributed to this report.