'Buyers Likely To Bear Cost Of Future Tariff Hike'

The Secretary for Commerce and Economic Development, Edward Yau, has warned that consumers may have to bear the cost if the US decides to further raise tariffs on Chinese goods next month.

The US and China are yet to reach an agreement over their trade relations before their three-month truce ends on March 1.

Speaking on a radio programme, Yau said he understands that local producers have already borne most of the cost of previous trade tariff hikes, and they will struggle to cope with further increases.

While he said it's hard to predict the outcome of the upcoming trade talks, the SAR government will continue to do its part in helping local businesses explore new opportunities elsewhere in, for example, the Greater Bay Area or in countries along the Belt and Road.

Meanwhile, the commerce chief said despite a surge in mainland tourists over the Chinese New Year period, things have remained relatively orderly so far. He said authorities will continue to attract high-end and overnight visitors to boost the local tourism sector.