On Monday, December 7, oil prices fell by about 1% as rising coronavirus cases and tensions between the U.S. and China undermined the positive impact of the OPEC+ deal on production, Reuters reported. China routinely protests US Navy activities in the region, and often dispatches ships or aircraft to shadow the US vessels. Hong Kong shares weakened on Tuesday amid ongoing trade tensions between the United States and China, as well as a worsening epidemic situation in the US. Relations between China and the U.S. have become more tense, and they could become a headwind for the stock market as China becomes a bigger … The Huanan Seafood Wholesale Market, where the coronavirus was detected in Wuhan, in January. US-China trade tensions have negatively affected consumers as well as many producers in both countries. However, when they want to avoid sudden fluctuations, the government will intervene. Chinese propagandists also have promoted the countertheory, with no evidence, that American soldiers may have been the original source of the virus during a visit to Wuhan last October. "We continue to execute a global Freedom of Navigation operations program in which US Navy ships safely and professionally challenge excessive maritime claims, including those in the South China Sea. Tensions between the U.S. and China escalated sharply after two U.S. moves this week. "The Chinese Communist Party must end its pattern of bullying Southeast Asians out of offshore oil, gas, and fisheries. Tensions continue to rise between the Trump administration and China over the handling of the novel coronavirus pandemic. Nobody is suggesting the US is headed towards conflict with China but Defense Secretary Mark Esper has continued to make blunting Beijing a priority. Accusing China’s state-run media outlets of fomenting propaganda, the Trump administration sharply limited the number of Chinese citizens who could work for Chinese news organizations in the United States. The Trump administration has increasingly challenged China’s assertions of sovereignty and control over much of the South China Sea, including vital maritime shipping lanes. China has long criticized what it calls provocations by the US and its military efforts in the South China Sea that commenced several years ago when China made disputed territorial claims. Tensions between China and the United States have reached the most acute levels since the countries normalized diplomatic relations more than four decades ago, with the American government’s ordering that China close its Houston consulate being just the latest example. The economic relationship between China and the US is very strained at the moment. "China urges the United States to focus on its own business with pandemic prevention and control, make more contributions to the global fight against the Covid-19, and immediately stop military operations that are detrimental to regional security, peace and stability," Senior Col. Li Huamin, spokesperson for the People's Liberation Army Southern Theater Command, said in a statement. The US also says China has attempted to intimidate other nations in the region. Brent crude fell US46 cents, or 0.9%, to settle at $48.79 a barrel. On Tuesday, the Justice Department accused Chinese hackers of attempting to steal information about American research on a virus vaccine. China has long been accused by successive U.S. administrations of stealing American technology. Subsequently, tensions in the Taiwan Strait diminished and relations between the US and the PRC improved, with increased high-level exchanges and progress on numerous bilateral issues, including human rights, ... China's economic rise has led to some geo-political friction between the US and China in … President Donald Trump and President Xi Jinping of China at the Group of 20 summit in Osaka, Japan, last year. Pressure on oil prices is exacerbated by a potential increase in Iranian production. Last November the State Department’s ambassador at large for international religious freedom, Samuel D. Brownback, warned that only Tibetans could choose the successor to the Dalai Lama, who turned 85 this month, setting up a new clash with Beijing, which contends it will choose his successor. In defense, trade, technology, media and diplomacy, among other areas, the rancor between the Trump administration and China’s ruling Communist Party is worsening. The Trump administration has taken steps to cancel the visas of thousands of Chinese graduate students and researchers in the United States who have direct ties to universities affiliated with the People’s Liberation Army, according to American officials knowledgeable about the planning. For its part, China has rejected the administration’s attacks over the virus and has criticized the poor American government response to the outbreak. Those challenges drew a sharp rebuke from Beijing who urged the US to focus on its coronavirus response and to cease such military operations. Brent crude fell 46 cents, or 0.9%, to settle at $48.79 a barrel. The US routinely sails through the Taiwan Strait but the Chinese military views the strategic waterway separating China from Taiwan as a priority area and often shadows US vessels that sail through the area. Late last month the US Navy also challenged Chinese claims to the waters surrounding the. 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