Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Hong Kong leaders say Trump 'completely wrong' for curbing ties

Stock Markets May 29, 2020 11:47PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. U.S. President Trump makes announcement about China at the White House in Washington 2/2

By Jessie Pang and Greg Torode

HONG KONG (Reuters) - Senior Hong Kong government officials lashed out on Saturday at moves by U.S. President Donald Trump to strip the city of its special status in a bid to punish China for imposing national security laws on the global financial hub.

Speaking hours after Trump said the city no longer warranted economic privileges and some officials could face sanctions, security minister John Lee told reporters that Hong Kong's government could not be threatened and would push ahead with the new laws.

"I don't think they will succeed in using any means to threaten the (Hong Kong) government, because we believe what we are doing is right," Lee said.

Justice minister Teresa Cheng said the basis for Trump's actions was "completely false and wrong", saying the need for national security laws were legal and necessary.

In some of his toughest rhetoric yet, Trump said Beijing had broken its word over Hong Kong's high degree of autonomy from Beijing, by proposing the national security legislation and that the territory no longer warranted U.S. economic privileges.

"We will take action to revoke Hong Kong's preferential treatment as a separate customs and travel territory from the rest of China," Trump said, adding that Washington would also impose sanctions on individuals seen as responsible for "smothering - absolutely smothering - Hong Kong's freedom."

Trump told reporters at the White House that China's move on Hong Kong was a tragedy for the world, but he gave no timetable for the moves, leaving Hong Kong residents, businesses and officials to ponder just how far his administration will go.

The American Chamber of Commerce in Hong Kong said Saturday marked "a sad day" for China's freest city.

"This is an emotional moment for Americans in Hong Kong and it will take companies and families a while to digest the ramifications," AmCham President Tara Joseph said in a statement.

"Many of us ... have deep ties to this city and with Hong Kong people. We love Hong Kong and it's a sad day," she said, adding the chamber would continue to work with its members to maintain Hong Kong's status as a vital business centre.

(For an explainer on how important Hong Kong is to China as a free finance hub, please click.)

China's parliament this week approved a decision to create laws for Hong Kong to curb sedition, secession, terrorism and foreign interference. Mainland security and intelligence agents may be stationed in the city for the first time - moves critics say put the city's extensive freedoms at risk.

Authorities in Beijing and Hong Kong insist the legislation will target only a small number of "troublemakers" who threaten China’s national security. They say such action is urgently needed after months of sometimes violent anti-government protests rocked the city last year.

Protests are simmering again as Hong Kong emerges from its coronavirus shutdown. Demonstrators are expected to take to the streets on Sunday.

Trump did not name any sanctions targets but said the announcement would "affect the full range of agreements we have with Hong Kong", including the U.S.-Hong Kong extradition treaty to export controls on dual-use technologies and more "with few exceptions".

China's Global Times, published by the People's Daily, the official newspaper of China's ruling Communist Party, said Trump's decision was a "recklessly arbitrary" step.

The Hong Kong government has had a long history of working ties with U.S. counterparts, distinct from Beijing, with cooperation on counter-terrorism, trade and money laundering.

More than 1,300 U.S. firms have offices in Hong Kong and provide about 100,000 jobs. In the past decade, the U.S. trade surplus with Hong Kong has been the biggest among all its trading partners, totalling $297 billion from 2009 to 2018.

 

Hong Kong leaders say Trump 'completely wrong' for curbing ties
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (38)
Panita Vijitraviwat
Panita Vijitraviwat Jun 01, 2020 10:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
OMG
Alan Rice
Alan Rice May 31, 2020 5:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It "was a sad day for Hong Kong" when your airport became unusable, because of un-managed protestors.
Klaus Weyers
Klaus Weyers May 31, 2020 4:18AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
10% of Chinese exports go to Walmart.. they should stop buying anything from red China.. and maybe the ruthless dictatorship will reconsider the beginning HK takeover
Bret Lafrance
Bret Lafrance May 30, 2020 9:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I was concerned of how this might play out for a moment, and then I remembered oh yeah we knew this was coming. Do you think anyone will notice, Singapore is a safer place without a cloud hanging over it.
Heather Tsai
Heather Tsai May 30, 2020 8:27PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
bring down CCP
William Smith
William Smith May 30, 2020 7:24PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Those comments by the China backed Hong Kong officials means Trump is doing exactly what America should be doing.
Jimmy Chang
Jimmy Chang May 30, 2020 2:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Good i hope we find all the loopholes and squeeze them till they play by the agreements that they has signed.
Brady Murray
Brady Murray May 30, 2020 9:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Very proud of the moves the Presidential administration is taking. This will put more pressure on the Communist regime. If it comes to fruition over time the Chinese economy will be rocked as HK slowly becomes wrecked due to the mass exodus that will follow. We can no longer stand by and allow the Communists to raid the world and bully the weak. I think the WHO is being schooled right now and that is a beautiful thing. Lie and cheat us......pay the price.
Diddl One
Diddl One May 30, 2020 9:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I agree on all you said in your ironic comment.
James Jiang
James Jiang May 30, 2020 9:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
have you ever considered that the government you worship is the one lies and cheats? or that is impossible
Jimmy Chang
Jimmy Chang May 30, 2020 9:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
James Jiang are you american or chinese?
James Jiang
James Jiang May 30, 2020 9:45AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I am American Chinese that live in both countries.
Harry Wilson
Harry Wilson May 30, 2020 9:05AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
we could move all of Hong Kong into Texas. brick by brick. it would be a win win situation and people would be free
Diddl One
Diddl One May 30, 2020 9:05AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Given the redneck environment, they would most likely end up like Gregory Floyd
Diddl One
Diddl One May 30, 2020 7:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
If you agree with China or not, what people tent to forget is that China is not run by the old Russian bureaucratski type of people who had little else to their abilities than being scrupulous in order to get to the top. The US is a plutocracy and China is a meritocracy. The political figures in China are some of the most vetted and accomplished minds in the world with IQ's that puts Yale Professors to shame. People like Trump or Biden or whomever you choose in the political establishment in the US are bunglers in comparison and only the ever muscle flexing military gets their foreign policies pushed trough. For now. Unless the US President is willing to take the entire world down with him in order to see how far he can push things, the Chinese will eventually come out on top. It's just a matter of time. So everyone should take a break and be sensible with the other.
Harry Wilson
Harry Wilson May 30, 2020 7:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Xi is a princeling, what are you even talking about?
Diddl One
Diddl One May 30, 2020 7:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
you have obviously not the slightest clue and feed the mainstream Media pretext. Being a so called princeling, did make his rise even more impressive as he was deemed from the wrong background fo a political career way back in his youth. All politicians who have ever commented on his person have one thing in common. He is one of the most intelligent people they have ever talked to.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email