(Reuters)
BEIJING, July 17 – The United States is set to restore Hong Kong’s special trading status, revoked in a 2020 order by U.S. President Donald Trump in response to Beijing’s imposition of a national security law in the financial hub, China said on Friday.
The year-long executive order, implemented on July 14, 2020 during Trump’s first term, has been extended each year. China’s commerce ministry said Washington had confirmed it would not extend it after the renewal date passed this week. The White House did not immediately respond to a request for comment.
Hong Kong had benefited from a special economic and trade status with the United States that was separate from U.S. dealings with China. This status was based on the principle that Hong Kong remained a separate customs territory and maintained a high degree of autonomy after its 1997 handover from Britain to China.
The reported decision to let the order lapse would mark a significant reversal and comes after recent trade talks between Washington and Beijing that also produced tariff reductions. It could restore Hong Kong’s preferential treatment on export controls and other trade measures that have been aligned with those applied to mainland China since 2020.
