Acting in sympathy with the people of Hong Kong, who have just been told by China that they are being subjected to a new Chinese law to protect “national security,” President Trump has announced that he is taking measures to retaliate against … Hong Kong! Why, that sure makes a lot of sense, right! What better way to sympathize with people than to enact retaliatory measures against them?
Reacting to China’s new “national-security law” over Hong Kong, Trump says that he intends to strip Hong Kong of the special privileged relationship that it has long had with the United States.
According to the New York Times,
Under the special status, the U.S. dollar can be freely exchanged with the Hong Kong dollar, which makes the city a particularly attractive place for American companies to do business. Hong Kong gets preferential treatment on trade, meaning little to no tariffs or other costs. Americans enjoy visa-free travel, making it easy for business executives to come and go.
This special relationship between the United States and Hong Kong has resulted in $38 billion in annual U.S.-Hong Kong trade. It will, of course, come to an end with Trump’s decision to retaliate against Hong Kong to punish China for its law to protect “national security” in Hong Kong.......read more........
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