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US President Donald Trump has been crossing the wires on Monday, US time.

Trump has tweeted,

Great reviews on our handling of COVID-19, sometimes referred to as the China Virus. Ventilators, Testing, Medical Supply Distribution, we made a lot of Governors look very good – And got no credit for so doing. Most importantly, we helped a lot of great people!”

Nobody in 50 years has been WEAKER on China than Sleepy Joe Biden. He was asleep at the wheel. He gave them EVERYTHING they wanted, including rip-off Trade Deals. I am getting it all back!

That’s is some election talk there, but what markets are waiting for is his response to what is brewing in Hong Kong. Last year, Trump signed the Human Rights and Democracy Act into law. This was a bill that supports pro-democracy protesters in Hong Kong. The Human Rights and Democracy Act mandates an annual review to check if Hong Kong has enough autonomy to justify its special status with the US.

Back in November, when the Act was signed, China’s foreign ministry threatened “countermeasures” if the US continued “going down the wrong path”.

There is enough foundation for all of this to see Trump impose US sanctions and threaten the city’s status as a financial hub.