Hong Kong leader says city will sign more free trade pacts amid 'ruthless' US tariffs [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
"The U.S. no longer adheres to free trade, arbitrarily undermining the internationally established rules of world trade, and its ruthless behaviour damages global and multilateral trade," Lee, who was sanctioned by the U.S. in 2020 for his role in the rights crackdown in Hong Kong, told reporters. Hong Kong, as an international trade hub, will be affected by U.S. tariffs in the short term but Lee said it would continue to remain a free port, with the city not planning to impose any retaliatory tariffs on the U.S. right now. The latest additional U.S. tariffs of 34 percent that were imposed on China also apply to Hong Kong -- which is no longer considered a separate trading entity by Washington amid a years-long crackdown under a sweeping national security law. This coupled with an earlier 20 percent tariff, means combined U.S. tariffs on Hong Kong goods are now 54%, Lee said. In terms of mitigation, Lee said Hong Kong would seek to bolster trade and business linkages elsewher
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