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Citing three people familiar with the matter, Reuters reported late Wednesday that the US administration is expected to impose sanctions on four additional state-run Chinese media outlets, designating them as foreign embassies.

Note that already five Chinese news agencies are already under restrictions since February.

Key details

The designations are expected to include China Central Television (CCTV), the top state-owned network, and China News Service, the country’s second-largest state-owned news agency.

The announcement is on track for as early as Thursday.

The US and China conflict has risen in recent months over several issues, including journalists working in each other’s countries, coronavirus outbreak handling and the Hong Kong security law.

Market continues to worry that these tensions could place the phase one trade agreement between the two in jeopardy.

Market reaction

Amid resurfacing US-China tensions, the US dollar is recovering ground across the board, weighing negatively on the AUD/USD pair.

The spot now drops 0.31% to 0.6897, as investors shrugged-off upbeat Australian Retail Sales and Trade figures.