Hong Kong: Trump's sanctions worry business community

Text by: RFI Follow

Donald Trump announced Friday May 29 that the United States will end the exemptions granted to Hong Kong as part of its special relationship with the United States. China "has not kept its word given to the world to ensure the autonomy of Hong Kong," launched a firm tone the American president, without giving details. But this statement already worries the business community. 

Publicity

The current White House tenant is unlikely to reverse his decision to end the exemptions the United States grants to Hong Kong. A decision that "  will have an impact on all the agreements  " between the two parties, said Donald Trump, referring in particular to certain commercial privileges, with a few exceptions.

But by denouncing in this way the controversial national security law, wanted by China in the former British possession, now autonomous territory, the American president has accentuated even more the concerns of the business circles which already fear that the questioning by Beijing of the principle "  one country, two systems  " does not affect the freedom of enterprise enjoyed by the small territory.

Large investors are therefore monitoring the development of Hong Kong's situation very closely. They are particularly concerned about the deterioration of the legal business environment, which would jeopardize the free movement of capital and the low level of taxation, which have made Hong Kong the third largest financial center in the world, after New York and London.

Newsletter Receive all international news directly in your mailbox

Follow all international news by downloading the RFI application

• Hong Kong
• Economy
• Donald trump
• United States

On the same subject

Donald Trump sanctions China by revoking the special status of Hong Kong

Hong Kong: after the United States, the United Kingdom puts pressure on China

Hong Kong on the Security Council table after passing a law in Beijing