US Sec. of State Pompeo announces visa restrictions for some Chinese officials over Tibet

During Tuesday night in the US, Reuters came out with the news suggesting escalation in the Sino-American tussle. The reason is the Trump administration member Mike Pompeo’s announcement of visa restrictions for the People’s Republic of China (PRC) government and Chinese Communist Party officials over creating hardships for foreigners to visit Tibet.

Key quotes

The United States will restrict visas for some Chinese officials because China obstructs travel to the Tibetan Autonomous Region and other Tibetan areas by U.S. diplomats, journalists and tourists.

Today I am announcing visa restrictions on PRC government and Chinese Communist Party officials determined to be ‘substantially involved in the formulation or execution of policies related to access for foreigners to Tibetan areas.

FX implications

While the news adds a point to the US-China tension and weighs on the market’s sentiment, S&P 500 Futures stay mildly bid near 3,138 by the press time.