Monday 6 July 2020
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asiaone - 1 month ago

Hong Kong no longer deserves special US status, Pompeo says

WASHINGTON/HONG KONG - U.S. Secretary of State Mike Pompeo told Congress on Wednesday that Hong Kong no longer qualifies for its special status under U.S. law, potentially dealing a crushing blow to its status as a major financial hub. China had undermined Hong Kong’s autonomy so fundamentally, Pompeo said, that he could not support its recertification for its special pre-1997 trading status. China’s plan for new security legislation triggered protests in the territory, and it now falls to President Donald Trump to decide to end some, all or none of the U.S. economic privileges the territory enjoys. While Pompeo made no recommendations in his statement, Trump has a long list of possible responses, including visa and economic sanctions, David Stilwell, the State Department’s assistant secretary for East Asia, told reporters. People familiar with the matter told Reuters the Trump administration was considering suspending Hong Kong’s preferential tariff rates for exports to the United States as part of its response to China’s plan.


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