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Trump Revokes Privileges For Hong Kong


Trump, Retaliating Against Beijing, Revokes Privileges For Hong Kong
May 29, 20201:28 PM ET

The United States is rescinding a number of special considerations for Hong Kong in retaliation for what Washington calls a naked power grab there by China's central government.

President Trump announced a suite of changes on Friday in what had been billed as a press conference but which turned out to be an on-camera statement, after which he took no questions.

Trump did not address other big national stories, including police violence in Minneapolis or his ongoing feud with Twitter.

He focused instead on his intent to revoke Hong Kong's special customs status, impose some sanctions on officials in the mainland and Hong Kong governments, and take other steps.

The precise details or their implications weren't immediately clear. For example, Trump said he was directing a study of the "differing practices" involved with Chinese and American companies in financial markets, arguing that U.S. investors deserved what he called "fair" treatment.

That could have implications for Chinese companies or banks and Hong Kong's status as a major Asian financial center, although there was no detail about when Trump might get the "study" or what it could contemplate.

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