No immediate impact on HK enterprises from Trump's 100pc tariff plan, says Frederick Ma

Hong Kong enterprises have not yet experienced the impact of US President Donald Trump's threat to impose 100 percent tariffs on Chinese imports, despite ongoing uncertainties, according to the Hong Kong Trade Development Council (HKTDC) chairman, Frederick Ma Si-hang.

Ma noted that the full impact of the tariff war on local import and export sectors requires a longer observation period, as unstable factors might deter investors and affect business transactions since April. 

However, he highlighted that no significant impact on local enterprises has been observed so far. Instead, trade volumes between Hong Kong and the mainland have slightly increased.

"The only certainty now is uncertainty," Ma said, stressing that geopolitical tensions have introduced many uncertainties over the past period. 

He emphasized that the HKTDC has been consistently assisting numerous enterprises in expanding overseas, upgrading and transforming their operations, and exploring new markets.

Meanwhile, the HKTDC considers supporting local and mainland enterprises in going global as its most critical task, in its role as a "super connector" and "super value-adder."

Regarding strategies to cope with a new round of tariff wars, Ma reiterated that the HKTDC will assist Small and Medium Enterprises (SMEs) in exploring new markets under any circumstances. 

He believed that local enterprises must not rely on a single market, pointing out that trade figures with the Middle East and the Association of Southeast Asian Nations (ASEAN) have been rising.