'Trump Move Not A Surprise To Business Sector'

The CEO of the Chinese Manufacturers' Association of Hong Kong, Raymond Young, has played down the impact of the US President Donald Trump's move to end special treatment for Hong Kong, saying it "did not bring too much shock".

Speaking on an RTHK radio programme on Thursday, Young said the business community had expected such a move, but admitted that it would increase uncertainty for the sector.

He said very few businessmen would find themselves on the US list of people to be sanctioned for undermining Hong Kong's autonomy, and that the move to eliminate privileges for Hong Kong passport holders doesn't mean they can no longer go to the US.

Young also said he believed the US would not target the Hong Kong dollar's peg to its US counterpart in the short term, as this would be a "nuclear option" that would hurt both sides.

Also responding to the news was Liberal Party leader Felix Chung, who accused Trump of using Hong Kong to be tough on China in order to increase his chances of winning November's presidential election.

Chung said that with the elections just months away, the Trump administration was still likely to take further action.

The comments come after Trump on Tuesday signed an executive order that would end preferential economic treatment for the SAR in response to Beijing's imposition of a national security law for Hong Kong.