White House Announces Plans to Revoke Hong Kong’s Special Trade Status

President Trump announced on May 29 a change in U.S. policy towards Hong Kong that could have significant impacts on trade between the two trading partners. The announcement came after The State Department certified that Hong Kong is no longer sufficiently autonomous from mainland China to justify being treated as a separate territory in economic and trade matters. Secretary of State Mike Pompeo highlighted a recent announcement by China’s National People’s Congress of “its intention to unilaterally and arbitrarily impose national security legislation on Hong Kong” but said this is “only the latest in a series of actions that fundamentally undermine Hong Kong’s autonomy and freedoms.”

Specific details were not provided but the White House said that possible changes could affect anything form extradition policy and export and technology controls.

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