News that the US was preparing sanctions on some Chinese officials helped sour the tone in global financial markets in Asian trading Monday morning, and futures on the S&P 500 Index slipped 0.2 per cent.
As many as 14 people were expected to be impacted, Reuters, which first reported the sanctions, said separately.
Chinese Foreign Ministry spokeswoman Hua Chunying said on Monday Beijing would take countermeasures should the US continue down the “wrong path,” without elaborating.
“If the reports are true, I believe you can imagine China’s position,” Hua said. “We firmly oppose and strongly condemn U.S. interference in China’s internal affairs and sanctions on Chinese personnel under the pretext of Hong Kong.
We have expressed our positions to the US side many times and made legitimate and necessary responses.”
Hua spoke hours after Chinese Foreign Minister Wang Yi told the US-China Business Council that Washington and Beijing should “work together” to “achieve a smooth transition” of their ties.