US ends Hong Kong's special trade status, PRC to hit back

16 Jul '20

2 min read

Pic: Shutterstock

After the United States recently ended Hong Kong's preferential trade status and imposed sanctions on officials cracking down on human rights there, China condemned the decision and has vowed to hit back. While President Donald Trump said he was acting as China had taken away Hong Kong's freedom after imposing a new security law, Beijing said it would impose sanctions on relevant US people and entities.

China's foreign ministry described the decision as a ‘gross interference’ in its domestic affairs and said the country would impose retaliatory sanctions to ‘safeguard China's legitimate interests’, according to global newswires.

"The US attempt to obstruct the implementation of the national security law for Hong Kong will never succeed," the statement said.

"We urge the US side to correct its mistakes, refrain from implementing the act and stop interfering in China's internal affairs in any way. China will firmly respond if the US goes ahead," it added.

"No special privileges [for Hong Kong], no special economic treatment and no export of sensitive technologies," Trump had said.

Trump also criticised China over its handling of the coronavirus pandemic as well as its military build-up in the South China Sea, its treatment of Muslim minorities and massive trade surpluses.

Hong Kong's special trade status with the United States started in 1984 when the territory was still a British colony. Hong Kong now is expected to be treated the same as mainland China, meaning its goods could be subjected to additional tariffs.

Trump also said he had signed the Hong Kong Autonomy Act, which passed unanimously in Congress earlier this month and penalises banks doing business with Chinese officials who implement the security law.

The US government also directed officials to "revoke license exceptions for exports to Hong Kong," and includes revoking special treatment for Hong Kong passport holders.

Fibre2Fashion News Desk (DS)

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