Commerce secretary urges US to reverse 10pc tariffs on Chinese exports

Secretary for Commerce and Economic Development Algernon Yau Ying-wah urged the United States to promptly reverse its decision of imposing 10 percent tariffs on Chinese exports, as it harms the interests of all parties involved.

He said the SAR government had strongly condemned the US' erroneous actions and for ignoring Hong Kong’s status as a separate member of the World Trade Organization.

Speaking on a radio program on Thursday, Yau noted that trade should be mutually beneficial and that there will be no winners in a trade war. 

He underscored the SAR’s close economic ties with the US, noting a trade surplus of over US$270 billion (over HK$2.1 trillion) with Hong Kong in the past decade, reflecting America enjoys significant economic interests in the region.

In recent years, many Hong Kong businesses have changed their supply chain strategies and diversified production locations amid shifts in international trade

Yau indicated the government is actively exploring emerging markets to help local enterprises develop trade with other economies and plans to examine whether the US violated WTO agreements and would take appropriate follow-up actions as needed.

Regarding the US Postal Service’s inconsistent stance on suspending packages from China and Hong Kong, Yau said the Hongkong Post is addressing the issue by confirming the current volume of packages and the US handling methods.

He added that Hongkong Post would take appropriate actions based on the situation and communicate with the US promptly.

(Cheng Wong)