China's currency and the U.S. stock market stabilized Tuesday, after a dramatic drop the day before. Experts say the Trump administration was wrong to accuse China of currency manipulation.
Speaking in the capital, a spokesman for China's Hong Kong affairs office said protesters will be "held accountable" and said that Beijing had "tremendous power" to put down the protests.
World stock markets saw sharp sell-offs after China let its currency slide, the latest move in its trade war with the United States. The Dow Jones Industrial Average closed down 767 points, or 2.9%.
China's central bank appears to have orchestrated the yuan's fall against the U.S. dollar. A weaker currency makes Chinese goods more competitive on the world market.
Retailers predict rising prices if President Trump goes through with his threat to add new tariffs to Chinese imports. Meanwhile, the White House announced a deal to boost beef exports.
In the last two years, at least five graduates have been approached by agents to gather intelligence on the program and to ascertain whether they have been co-opted by Chinese espionage efforts.
President Trump said the United States will impose a new 10% tariff on $300 billion worth of goods imported from China, saying Beijing had broken some of the promises it made in trade negotiations.
If found guilty, the protesters reportedly could face up to 10 years in jail. Demonstrations began several weeks ago over an extradition bill and have grown to include other demands.