U.S. President Donald Trump attends a news conference in the Rose Garden at the White House in Washington, U.S., July 14, 2020. Jonathan Ernst, Reuters
CNBC: China vows retaliation after Trump slaps sanctions on it for interference in Hong Kong
* President Donald Trump said he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.
* Trump also said that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.
* China’s foreign ministry said Beijing will impose retaliatory sanctions against U.S. individuals and entities in response to the law targeting banks.
President Donald Trump said Tuesday that he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy.
Trump also said that he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.
“Hong Kong will now be treated the same as mainland China,” Trump said during a lengthy speech in the White House Rose Garden that quickly drifted away from that legislation to touch on a variety of campaign issues.
“No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China.”
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Update: China promises sanctions for US ending of Hong Kong preferential status (SCMP).
WNU Editor: Ending Hong Kong's preferential treatment by the US is going to have long term consequences for Hong Kong and for China's interest in the territory. I think Beijing never expected this response from the White House, and they are only now starting to appreciate what this will mean. Their issuing of threats against the U.S. also smacks to me of behaving emotionally rather than strategically.
