Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Hong Kong commerce secretary says will discuss 'made in China' labelling with U.S.: CNBC

Published 08/17/2020, 03:37 AM
Updated 08/17/2020, 03:40 AM
© Reuters. Hong Kong Commerce and Economic Development Secretary Edward Yau attends an interview in Hong Kong

(Reuters) - Hong Kong Commerce Secretary Edward Yau told CNBC on Monday that rising U.S.-China tensions are 'unhelpful' and that he will take up with the U.S. government the matter of Hong Kong goods for export to the United States to be labelled made in China.

Goods made in Hong Kong for export to the United States will need to be labelled as made in China after Sept. 25, according to a U.S. government notice posted last week.

When asked about the development by CNBC, Yau referred to World Trade Organization rules which state that Hong Kong is entitled to use its own labeling for its exports.

He also said that Hong Kong's growth slowed to an "unprecedented" 9% decline in the second quarter.

Yau expressed concerns over escalating U.S.-China tensions, saying that they were distracting from fighting the coronavirus pandemic.

"As we are fighting the pandemic, I think the last thing one would want is a further distraction that would disturb or disrupt the trade," he told CNBC https://cnb.cx/3iQdI5c.

Tensions between Washington and Beijing have been rising over the handling of the coronavirus outbreak, trade war tariffs, China's imposition of its national security law in Hong Kong and the subsequent U.S. decision to end the former British colony's special status under United States law.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.