JUST IN: The U.S. imposes sanctions on Hong Kong Chief Executive Carrie Lam.
" and an assault "on the rights and freedoms of the people of Hong Kong."
In a statement Friday, Pompeo said: "The Chinese Communist Party has made clear that Hong Kong will never again enjoy the high degree of autonomy that Beijing itself promised to the Hong Kong people and the United Kingdom for 50 years. President Trump has made clear that the United States will therefore treat Hong Kong as 'one country, one system,' and take action against individuals who have crushed the Hong Kong people's freedoms.
Along with Lam, Treasury is also sanctioning Chris Tang, Stephen Lo, John Lee Ka-chiu, Teresa Cheng, Erick Tsang, Xia Baolong, Zhang Xiaoming, Luo Huining, Zheng Yanxiong, and Eric Chan. "As a result of today's action, all property and interests in property of the individuals named above, and of any entities that are owned, directly or indirectly, 50 percent or more by them, individually, or with other blocked persons, that are in the United States or in the possession or control of U.S. persons, are blocked and must be reported to OFAC," according to the announcement.The new security law is the latest issue to cloud relations between Washington and Beijing.
The world's two largest economies are also struggling to mend trade relations, with intellectual property theft proving to be a major sticking point.
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