Categories: Market Overview

U.S. warns businesses connected to China’s Xinjiang region run ‘high risk’ of violating law

The Biden administration warned businesses with supply chain and investment ties to China’s Xinjiang province on Tuesday that they could face legal consequences, citing growing evidence of genocide and other human rights abuses in the country’s northwest region. The most pointed line from the Xinjiang Supply Chain Business Advisory – published jointly by the State Department, Treasury, Commerce, Homeland Security, Labor, and the Office of the U.S. Trade Representative – states that “businesses and individuals that do not exit supply chains, ventures, and/or investments connected to Xinjiang could run a high risk of violating U.S. law.”

The updated advisory strengthens previous warnings to companies by highlighting potential violations of U.S. law if their operations are linked even “indirectly” to the Chinese government in Xinjiang. “The People’s Republic of China government continues its horrific abuses in the Xinjiang Uyghur Autonomous Region and elsewhere in China, targeting Uyghurs, ethnic Kazakhs, and ethnic Kyrgyz who are predominantly Muslim, and members of other ethnic and religious minority groups,” State Department spokesman Ned Price wrote in a statement Tuesday.

“These abuses include widespread, state-sponsored forced labor and intrusive surveillance, forced population control measures and separation of children from families, mass detention, and other human rights abuses amidst ongoing genocide and crimes against humanity,” he added. The Chinese Embassy in Washington did not immediately respond to CNBC’s request for comment. On Friday, the Biden administration added 14 Chinese companies and other entities to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang.

U.S. warns businesses connected to China’s Xinjiang region run ‘high risk’ of violating law, CNBC, Jul 14

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

3 hours ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

8 hours ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

9 hours ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

This website uses cookies