Trump administration has lost rationality – Global Times

China’s influential news outlet, Global Times, Editor-in-Chief Hu Xijin responds to the US travel ban consideration on the Chinese political party.

Hu tweeted out: “The plan under consideration is so crazy and vicious, reflecting the Trump administration has lost rationality. The US ruling team is committing a crime ruining the foundation for world peace. The US democratic system is unable to curb the destruction. It’s a shame for it.”

This comes after reports that the US is reportedly considering imposing travel restrictions on Chinese Communist party members amid a deepening row, with President Donald Trump saying further sanctions were possible and Beijing vowing retaliation.

Market reaction

The risk-off sentiment remains the key theme so far this Thursday amid virus fears and rising US-China tensions.

AUD/USD drops 0.24% to trade near 0.6990 while USD/JPY holds steady below 107.00.