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Hong Kong exporters ‘face 25 per cent fall’ in US orders for first quarter of 2019 due to trade war
- Small and Medium Enterprises Association honorary chairman Danny Lau warns of rough time ahead
- HKUST professor believes US is using ‘petty tricks’ and wants to start a tech war
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Hong Kong firms exporting to the United States face a drop in business of at least 25 per cent in the first quarter of 2019 due to the US-China trade war.
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That was the prediction made on Saturday by Danny Lau Tat-pong, honorary chairman of the Hong Kong Small and Medium Enterprises Association.
His pessimistic forecast came a week after President Xi Jinping and his US counterpart Donald Trump agreed to hold back from applying extra tariffs in January to pave the way for a trade deal.
Lau said on a radio programme that when he learned about the 90-day truce he was relieved. But he felt the messages sent by the US were getting messy after Sabrina Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei Technologies, was arrested in Canada at the behest of US authorities.
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Trump’s shifting stance on the trade dispute also made signals confusing, Lau said.
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