The Hong Kong Government anticipates an impact on its economy as a result of US President Donald Trump’s decision to impose global tariffs of 10% on all imports, following a ruling by the US Supreme Court. Christopher Hui, the Secretary for Financial Services and the Treasury of Hong Kong, stated that the economy of the financial centre, which is focused on services, is reducing its vulnerability to global trade tensions. Hui noted that the increases in taxes have had a limited effect on the territory’s ability to withstand external impacts. The official for economic affairs emphasised that the US measure reinforces Hong Kong’s image as a place for capital movement in an environment of geopolitical uncertainty and trade division. This highlights the stability and predictability of policies, which provides a competitive advantage to attract investments and continue being a port for capital.
