Trump signs Hong Kong autonomy act, ending trade preferences
US-China tensions rise as US weighs sanctions over South China Sea territorial disputes, prepares crackdown on finances.
US President Donald Trump on Tuesday signed into law the Hong Kong Autonomy Act passed by the United States Congress that imposes sanctions on Chinese banks doing business with Chinese officials behind Beijing’s security crackdown on Hong Kong.
“We’ve all watched what happened, not a good situation. Their freedom has been taken away, their rights have been taken away,” Trump said of Hong Kong citizens.
The bill imposes sanctions on entities that help violate Hong Kong’s autonomy and financial institutions that do business with them.