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United States ending Hong Kong’s special trading status will hurt US firms, city’s American Chamber of Commerce says
- Chamber breaks silence, saying withdrawal of preferential treatment ‘will hurt American businesses in Hong Kong’
- Donald Trump signed the executive order this week in response to Beijing’s imposition of the national security law in Hong Kong
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The biggest international business group in Hong Kong warned on Friday that the United States’ decision to revoke the city’s preferential trading status would damage American firms there.
The American Chamber of Commerce in Hong Kong (AmCham) broke its silence two days after US President Donald Trump signed an executive order ending the special treatment granted under the United States-Hong Kong Policy Act of 1992.
“It will hurt American businesses in Hong Kong,” AmCham said.
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The US now treated Hong Kong the same as mainland China, Trump declared as he confirmed this week the retaliatory move against Beijing’s decision to impose a national security law on the city, legislation he deemed undermined its autonomy under the “one country, two systems” principle.
Under the termination of privileges, about 12 million Hong Kong SAR passport holders no longer have preferential treatment over those with mainland Chinese passports when entering the US; tariffs levied on made-in-China exports are also imposed on those made in Hong Kong; and city imports of US military and defence equipment cease.
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