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US Tariff Hikes on CN Now Include HK Products; CMA Urges Negotiations
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The US Customs and Border Protection, in conjunction with the Department of Homeland Security, announced that the additional 10% tariff on Chinese imports and the removal of the de minimis exemption will also apply to Hong Kong products, marking the first time the US has taken tariff action against Hong Kong. William Chui, CEO of the Chinese Manufacturers' Association of Hong Kong (CMA), said the industry is on high alert as this move has somewhat damaged Hong Kong's status as an international trade center and transshipment hub. Chui urged the Hong Kong government to negotiate with the WTO regarding Hong Kong's independent tariff status and maintain close communication with the central government to address the situation of lifted tariffs faced by Hong Kong businesses and industry operational issues. AAStocks Financial News |
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