Trump ends preferential economic treatment for Hong Kong

July 15, 2020 13:55

US President Donald Trump has signed an executive order to end the preferential economic treatment for Hong Kong after China imposed a controversial national security law in the Asian trading hub to curb autonomy and democratic freedoms.

The Trump administration has been openly critical of Beijing's sweeping national security law aimed at limiting Hong Kong's autonomy and curb political dissent against the ruling Chinese Communist Party.

Trump said he also signed legislation to sanction Chinese officials responsible for cracking down on political dissent in Hong Kong.

"Today, I signed legislation and an executive order to hold China accountable for its oppressive actions against the people of Hong Kong," Trump said at a White House press conference on Tuesday. The president also said he signed an executive order ending US preferential treatment for Hong Kong, a former British territory handed over to China in 1997.

"Hong Kong will now be treated the same as mainland China. No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China.

"First time this has ever happened to China, billions of dollars have been paid to the US, of which I have given quite a bit to the farmers and ranchers of our country because they were targeted, and that has been going on for three years," he said.

"This was the first time anybody did anything like that and prior to the plague pouring in from China, they were having the worst year economically in 67 years," Trump said. -- PTI

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