Citing China’s decision to enact a new national security law for Hong Kong, Trump signed an executive order that he said would end the preferential economic treatment for the city. SEE ALSO: My Sh50 startup journey“Today I signed legislation, and an executive order to hold China accountable for its aggressive actions against the people of Hong Kong, Trump said. “Hong Kong will now be treated the same as mainland China,” he added. It also directs officials to “revoke license exceptions for exports to Hong Kong,” and includes revoking special treatment for Hong Kong passport holders. Hong Kong was the source of the largest bilateral U.S. goods trade surplus last year, at $26.1 billion, U.S. Census Bureau data shows.

Source: Standard Digital July 15, 2020 04:11 UTC