Experts Warn: Hong Kong Should Resist Joining Beijing's Counter-Tariff Measures

Experts Warn: Hong Kong Should Resist Joining Beijing's Counter-Tariff Measures

However, legislator Jeffrey Lam suggests imposing a 34% tariff on American goods as a sign of solidarity, aligning with Beijing's approach. Some economists and business leaders argue that Hong Kong needs to preserve its status as a free trade port, which is essential for maintaining its role as a key global financial center. They also urge the city not to follow Beijing’s lead by implementing retaliatory tariffs on American products. However, Executive Council member and legislator Jeffrey Lam Kin-fung expressed a differing opinion, stating that Hong Kong ought to contemplate emulating Beijing by levying a 34 percent duty on certain U.S. goods as a sign of solidarity with "our country." "Some goods, particularly those with readily available substitutes like food or apparel, might be subjected to tariffs. However, crucial equipment needed for medical use ought to be exempt from these charges," he stated. Are you looking for insights into the most signifi…