Gov't to watch trade dispute closely

2018-07-19 23:27:26

Hong Kong must keep a close watch on the trade dispute between the Mainland and the US.

Secretary for Commerce & Economic Development Edward Yau made the statement today after meeting representatives of major chambers of commerce and small and medium enterprise associations.

They discussed the possible impact of the trade dispute on the city.

?This is in fact the fourth time that I have convened a meeting of this kind, with all the major chambers including SME associations and also semi-government bodies, including Trade Development Council, Export Credit Insurance Corporation, to look at what possible impact the trade war would (have on) Hong Kong.

?The first list was introduced in early July, which has imposed already a 25% tariff on quite a wide range of products, some of which, about 19% of which come through Hong Kong (are being affected), so there is a direct impact on trade through Hong Kong.

?But as the US is now threatening to impose even a longer, wider list of tariffs, we have to keep a very close watch to see if the impact would be far beyond the first one.?

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