we want to return. we are proactive. we want to abide by the guidelines, but we need guidelines to abide by. reporter: china keeping most international students, including americans, from returning based on covid-19 restrictions. but khan thinks there s more to that. i do believe having that american passport is making things difficult because of the political conflict between the u.s. and china. i feel like we may be caught in the crossfire. reporter: back in china, hu is part of a group pushing the biden administration to revoke the trump proclamation. even trying to raise funds to launch a lawsuit against the u.s. government. trying my best to be positive. even though the reality might not always be good. reporter: david culver, cnn, shanghai. thank you for joining us this hour. i m rosemary church. i ll be back with more news in just a moment, do stay with us.
limbo. my research was disrupted. reporter: dennis hu flew to shanghai in january 2020 along with friend and lab mate matthew jikelski. while matthew, an american, returned to the u.s., hu was delayed in going back to their university in boston. first by the outbreak. several attempts to return failed. then came a new policy under president trump. first i think it s a policy of discrimination based on nationality. to suspend the entry reporter: hu was referring to proclamation 10043. in may 2020, trump blocked chinese graduate students and post-grad researchers that came mostly from eight chinese universities with suspected chinese military ties. the policy singled out those studying in s.t.e.m. fields science, technology, engineering, and math framed as part of national security. there certainly is espionage that goes on in u.s.
markets react there, a 1% loss for the dow, s&p 500 a similar decline but let s not forget these markets in the us have hovering around record highs for some time so it is a reason to take profits for many when these kind of minutes and this discussion is going on within the financial markets. so let s get some of the day s other business stories. the us transportation department says it will limit some chinese air carrier flights to 40% passenger capacity for four weeks after the chinese government imposed similar limits on four united airlines flights. china told united it was imposing sanctions after it alleged five passengers who traveled from san francisco to shanghai tested positive for covid 19 injuly. chinese president xijinping has called for stronger regulations on high incomes, as part of a wider campaign to redistribute wealth and moderate societal behaviour, especially among its youth.
it s not mine. it s your staff s. i ll look at it chris: it s the trump administration s. yes, sir. chris: can i move on? sure, you can. chris: okay. what do you think are the chances that china will keep this trade war going until after the 2020 election to see who s elected? i think what s important now, chris, is that we continue the negotiating process. bob lighthizer and steve my nine chin mnuchin went to shanghai. we were planning on having the chinese come in september. i think the best thing to do is negotiate behind closed doors and not get caught up in the hype. chris: what do they have to do? obviously, the reason let me just finish the reason the president announced this new round of tariffs is because there was of no progress in shanghai. what do they have to do to get the tariffs eliminated? the seven deadly sins here, basically. it s stop stealing our intellectual property, stop
ainsley: fox business network correspondent joins us. great time for the american economy, american exceptionalism still alive and well. yesterday we hit a record for the stockmarket with s&p 101st record this election day under president trump and it is the best jobs market in 50 years. longest economic expansion on record, longest bull market run in history and americans feel wealthier. you can find a job, put food on the table and put kids in school. brian: the other thing i think is important as word is there will be a meeting in about two months with china with the trade market back on fact track. next week we expected interest rate cut so mortgages will get cheaper and i should help the housing market. we have us trade negotiators headed to shanghai for the first face to face meeting since g20 and markets have taken that positively this week.