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US strips Hong Kong of special trading status

Date: 29 May 2020 Tags: Miscellaneous
  • U.S. Secretary of State Mike Pompeo declared that Hong Kong no longer enjoys the autonomy promised by Beijing, stripping the financial hub of its special status under U.S. law.
  • Under a law passed last year by Congress aimed at supporting Hong Kong’s pro-democracy movement, the administration has to certify that the territory is still autonomous to enjoy its separate status with the U.S. for trading purposes.
  • The Chinese legislature is expected to move forward on a law that would ban “sedition” and other perceived offences. Hong Kong activists say that the law effectively abolishes the basic freedoms enjoyed in the financial hub.