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The US Chamber of Commerce said in a statement on Tuesday that it was deeply concerned about China considering a law that could undermine Hong Kong’s autonomy, per Reuters.

“Jeopardizing Hong kong’s special status would be a serious mistake,” the Chamber of Commerce said and asked Beijing to de-escalate the situation. “Chamber urges Trump administration to prioritize positive ties to Hong Kong.”

Market reaction

This statement doesn’t seem to be having a significant impact on market sentiment. As of writing, the S&P 500 futures were up 1.75% on a daily basis.