Trump's Sanctions Bring 'uncertainty' To HK Business

The leader of the business-friendly Liberal Party says US President Donald Trump's announcement that he's withdrawing the SAR's trade privileges will add uncertainty to the business environment here and weigh against investment, harming the interests of Hong Kong people.

But Felix Chung said the impact of tariffs, travel restrictions or sanctions would be limited because Hong Kong's exports to the United States are small and there's already a visa system in place for travellers.

"Of course it's very disappointing to hear this, and it may have serious economic effects on Hong Kong's business sector," Chung said on Saturday. "We don't know when he's going to do it, there's no timetable, but certainly I believe he will do it very soon.

"Overall it will not affect Hong Kong too much but, having said that, it does create uncertainty and an unstable situation for the business sector for future investment."

Trump's announcement late on Friday came in response to a vote by the National People's Congress to approve the imposition of a national security law for Hong Kong. He also announced sanctions against Hong Kong and mainland officials, without giving details.

Chung said the US leader had broken his promise not to harm ordinary Hong Kong people, and said protesters who had waved the American flag and urged Trump to intervene should learn a lesson from the situation.

"In one way they said we will support Hong Kong, but on the other hand they sanctioned Hong Kong. So a lot of people, especially the young people, if they trust the United States to help Hong Kong, please don't have that dream any more."