United States President Donald Trump has moved to end not just the special status accorded to Hong Kong by his countrybut also signed a bill that would sanction Chinese officials said to be responsible for coming down hard on political dissent in the city. The US announcement drew a rebuke from Beijing, which vowed to impose retaliatory sanctions on US individuals and entities, adding fresh uncertainty for businesses in the Asian financial hub.. Read more at straitstimes.com.
United States President Donald Trump has moved to end not just the special status accorded to Hong Kong by his country but also signed a bill that would sanction Chinese officials said to be responsible for coming down hard on political dissent in the city. The US announcement drew a rebuke from Beijing, which vowed to impose retaliatory sanctions on US individuals and entities, adding fresh uncertainty for businesses in the Asian financial hub.
Q: How extensive can the impact be? A: Previously, as a separate customs territory for imports into the US, Hong Kong was not subject to tariffs placed on China, including the wide-ranging Section 301 tariffs on about US$370 billion Chinese goods now in place. The US will also suspend the extradition agreement between Hong Kong and US, as well as end training of members of the Hong Kong Police Force or security services at the US Department of State's International Law Enforcement Academies.
The sanctions exclude officers or controlling shareholders from the US but allows the government to impose them on individual officers of the financial institution.
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