Hong Kong vows support for businesses amid US tariff impact, Algernon Yau says

Hong Kong Secretary for Commerce and Economic Development Algernon Yau Ying-wah met with representatives from 10 local business chambers on Monday to discuss the impact of US tariffs on the city's exports and explore countermeasures.

Yau said the tariffs would inevitably affect Hong Kong in the short term, but noted that exports to the US account for only a small share of total trade, as the Association of Southeast Asian Nations has been the city’s second-largest export market since 2019.

The government has vowed to assist businesses in tackling current challenges and to continue supporting efforts to expand into new markets and upgrade industries in response to changes in the global trade landscape, Yau added.

He condemned the US move as unreasonable, calling it a violation of World Trade Organization rules and urged the business community to stand united in defending Hong Kong’s trade interests.

STAFF REPORTER