Hong Kong Gets Swept Up in Trump’s Trade War With China
- Trump’s moves risk undercutting Hong Kong’s distinct identity
- City to file WTO case over Trump’s ‘unreasonable measures’
Economists generally expect Trump’s tariffs on Hong Kong to do little damage as they apply to goods manufactured in the city, rather than so-called re-exports that make up the bulk of its trade.
Photographer: Bertha Wang/BloombergThis article is for subscribers only.
Donald Trump’s new trade war is further blurring the lines between Hong Kong and Beijing, threatening to erode the city’s main selling point as a global financial hub.
When Trump slapped a 10% levy on China this week, that action for the first time also applied to Hong Kong goods, after the president in 2020 signed an executive order to remove the city’s special privileges. One day later, the US Postal Service put a ban on incoming Chinese parcels that also swept up the commerce center, before reversing course hours later.