Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
John Lee: U.S. Indiscriminate Tariffs Disrupt Global Trade Order; HK Govt Responds with 7-Pronged Approach
Recommend 6 Positive 8 Negative 14 |
||||
|
||||
|
Hong Kong Chief Executive John Lee met with reporters ahead of an Executive Council meeting, highlighting that the U.S. announced so-called reciprocal tariffs on multiple trade partners, including an additional 34% tariff on Hong Kong products. Combined with the previously announced 20% tariff, this results in an aggregate 54% tariff. Lee noted that, beyond facing global risks, Hong Kong’s re-export trade and logistics sectors will face pressure, and businesses involved in foreign trade, particularly SMEs and cross-border e-commerce, will unavoidably be infected in the short term. He outlined that the SAR government will intensify efforts in seven areas: 1) fully seizing national development opportunities to integrate into the country’s overall development; 2) enhancing international engagement and cooperation to deepen regional ties; 3) accelerating industrial upgrading and transformation toward a high-value innovation-driven economic model; 4) boosting technological innovation; 5) vigorously promoting international financial cooperation; 6) capitalizing on the trend of countries seeking to diversify regional risks to attract foreign companies and capital to Hong Kong; 7) and continuing to provide support to industries to help businesses address challenges. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
