Companies and lawyers are rushing to work out the implications of US sanctions on Chinese and Hong Kong officials, which have raised temperatures between the world’s two biggest economies.
The measures, announced by the Trump administration on Friday, are in response to a draconian national security law Beijing has imposed on Hong Kong. China on Monday unveiled retaliatory sanctions on US officials.
Washington’s moves could have far-reaching implications beyond the targeted individuals, with banks among those that could be affected.
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