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US businesses awake to 'sad day' in Hong Kong as Trump vows to curb ties

Speaking at the White House, Trump said China's move on Hong Kong was a tragedy for the world

Donald trump
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China's Global Times, which is published by the People's Daily, the official newspaper of China's ruling Communist Party, said Trump's decision was a "recklessly arbitrary" step

Anne Marie Roantree | Reuters Hong Kong
The American Chamber of Commerce in Hong Kong said on Saturday it was a sad day for the global financial centre, hours after U.S. President Donald Trump moved towards stripping the city of its special treatment in a bid to punish China.

In some of his toughest rhetoric yet, Trump said Beijing had broken its word over Hong Kong's high degree of autonomy by proposing new national security legislation and the territory no longer warranted U.S. economic privileges.

"We will take action to revoke Hong Kong's preferential treatment as a separate customs and travel territory from the rest of China," Trump said,

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First Published: May 30 2020 | 8:11 PM IST

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