The US Senate on Thursday passed a legislation that would impose sanctions on companies or persons backed by Chinese efforts to restrict Hong Kong’s autonomy.
The legislation includes sanctions for Banks doing Business with anyone or group found guilty of backing crackdowns on Hong Kong’s autonomy, cutting them off from American business incentives and limiting their dollar supply.
The Hong Kong Autonomy Act was signed with an unanimous vote and will need backing from the House is Reps before being signed by Trump.
US Democrat Senator, Chris Van Hollen said the legislation send a clear message to China that there would be consequences of its undermines Hong Kong’s autonomy.
Senator Josh Howley said: ” this could be our last opportunity to stay Beijing’s hands over before it destroys what is left of freedom in the city”.
Relations between the 2 Economic Superpowers deteriorated over the Coronavirus pandemic which originated in China and China’s New National Security Laws for Hong Kong was a catalyst for Trump to remove ” special economic treatment” that makes Hong Kong a global financial services giant.