House Unanimously Passes China Sanctions Bill In Response To Hong Kong Law

House Unanimously Passes China Sanctions Bill In Response To Hong Kong Law

Tyler Durden

Wed, 07/01/2020 – 17:45

The U.S. House of Representatives unanimously passed a bill imposing sanctions on banks that do business with Chinese officials involved in the national security law that cracks down on pro-democracy protesters in Hong Kong, a move many lawmakers said violated the government’s promise to honor the autonomy of the former British colony.

During a special appearance at a House Foreign Affairs Committee hearing on Wednesday, House Speaker Nancy Pelosi said the new law “signals the death of the one country, two systems” model followed by China with respect to Hong Kong

“The law is a brutal, sweeping crackdown against the people of Hong Kong, intended to destroy the freedoms they were promised,” Pelosi said.

As we noted earlier, China described the security law as a “sword of Damocles” hanging over its most strident critics.

The bill, which according to Bloomberg is similar to a measure passed by the Senate last week, would have to be approved by the Senate before going to President Donald Trump for a signature. The House bill, which was slightly modified from the Senate version sponsored by Senators Pat Toomey, a Pennsylvania Republican, and Chris Van Hollen, a Maryland Democrat, was changed because of a procedural snag that requires all revenue-producing bills to originate in the House.

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Author: Tyler Durden


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