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Trump ends Hong Kong trade preferences, backs banking sanctions

Trump ends Hong Kong trade preferences, backs banking sanctions

13 Sept 15:44 Key points summarised by AI
  • President Trump announced the termination of Hong Kong's preferential trade status, declaring it will now be treated the same as mainland China due to Beijing's imposition of a new security law.
  • Trump signed the Hong Kong Autonomy Act into law, authorizing sanctions against Chinese officials and banks involved in undermining the city's autonomy, aiming to force financial institutions to choose between abetting Beijing or operating in the US economy.
  • China swiftly condemned the US actions, vowing to retaliate with necessary responses to protect its legitimate interests and impose sanctions on relevant US personnel and entities.
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