Trump ends Hong Kong trade preferences, backs banking sanctions

US President Donald Trump said on Tuesday he was ending trade preferences for Hong Kong and signed into law an act that authorises sanctions on banks over China's clampdown in the city.[WASHINGTON] US President Donald Trump said on Tuesday he was ending trade preferences for Hong Kong and signed into law an act that authorises sanctions on banks over China's clampdown in the city.

In a news conference driven by criticism of his domestic rivals, Mr Trump declared himself to be tougher than ever on China including over its treatment of the financial capital. "Hong Kong will now be treated the same as mainland China - no special privileges, no special economic treatment and no export of sensitive technologies," Mr Trump said in the White House Rose Garden."And with it goes Hong Kong, in my opinion, because it will no longer be able to compete with free markets. A lot of people will be leaving Hong Kong."

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