Trump Ends Preferential Treatment For Hong Kong

The US will no longer treat Hong Kong differently to the rest of China in their trade deals, while anyone threatening political rights in Hong Kong will face sanctions.

Trump Ends Preferential Treatment For Hong KongHong Kong's status as a trade hub/re-exporting hub is under threat due to the precedent set by the US.

United States President Donald Trump has signed a bill that will end the preferential treatment of Hong Kong. He will also be imposing sanctions on politicians who threaten the rights of people in Hong Kong.

Following a new national security law passed by the Chinese government, Hong Kong’s separate, democratic-capitalist system of governance will likely fade away, as the communist system practiced in Mainland China comes to the fore. Therefore, Hong Kong’s unique position as a trade hub or re-exporting hub will likely come to an end if Trump’s bill sets the precedent for other countries around the world.

Speaking at the Rose Garden, Trump gave a statement about the new bipartisan legislation to clamp down on China’s intentions to change Hong Kong’s political and economic landscape.

“Hong Kong will now be treated the same as mainland China,” Mr Trump said, according to BBC. “No special privileges, no special economic treatment and no export of sensitive technologies.”

He also said that he had signed the Hong Kong Autonomy Act, which had been passed by the US Congress earlier this month.

“This law gives my administration powerful new tools to hold responsible the individuals and the entities involved in extinguishing Hong Kong’s freedom,” he continued.

Trump also took a stab at Chinese President Xi Jinping, accusing him of foul play with regards to the coronavirus outbreak, which has now infected nearly 3.5 million Americans, according to Johns Hopkins. Following that, he launched an attack on his Democratic opponent for November’s Presidential elections, Joe Biden.

“We hold China fully responsible for concealing the virus and unleashing it upon the world,” he said. “Joe Biden and President Obama freely allowed China to pillage our factories, plunder our communities and steal our most precious secrets.”

China has responded to Trump’s statements by saying that it will be imposing retaliatory sanctions.

“China will make necessary responses to protect its legitimate interests,” a statement from the Chinese Foreign Ministry said.

 

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