Published 19:40 IST, August 20th 2020

Hong Kong condemns US’ decision to suspend treaties on extradition and taxation

The government of Hong Kong has condemned the United States' decision to suspend tax exemption treaties with Asia's largest financial hub.

Reported by: Akanksha Arora
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On August 20, government of Hong Kong condemned United States' decision to suspend bilateral extrition and tax exemption treaties with Asia's largest financial hub. American authorities formally informed Hong Kong about withdrawal on August 19. Previously, countries like Cana, Australia and Britain have also suspended such agreements. This anuncement came after United States President Donald Trump’s decision to cancel Hong Kong’s preferential tre status.

Hong Kong slams US' decision of suspending treaties 

According to reports by AP, statement said, “ US’ unilateral decision reflects its disrespect for bilateralism and multilateralism under current ministration and should be condemned by international community. HKSAR Government strongly objects to and deplores US’ action, which is widely seen as a move to create troubles in China-US relationship, using Hong Kong as a pawn”. Companies manufacturing in Hong Kong will w have to label ir products as 'Me in China', particularly those meant for export to United States.

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Reports suggest that a new tification issued by US Customs & Border Protection said that goods me for export to United States will need to be labeled as me in China after September 25. This comes as United States determined that Hong Kong is longer sufficiently automous to enjoy a different treatment than mainland China. As per tice issued by CBP, same tre tariffs will be imposed on Hong Kong as on exporters from China.

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Former US diplomat, told AP, “Hong Kong is an issue that’s going to be with us for quite some time, and in a frustrating way. It’s part of China and things that are internal to China, even if y have an international dimension, like Hong Kong and Xinjiang, Chinese have a demonstrated disdain for outside opinion and are inflexible in reaction to it”. Talking about situation of Hong Kong, lawmakers from Hong Kong’s Democratic Party said that all of m have planned to hold a debate in order to conclude if y will continue serving in legislature for ar year or t as elections have been postponed due to vel coronavirus. James To, a member of Democratic party said that, “We would prepare at least one debate in order … to have a comprehensive range of arguments and points so that whole society can decide”. 

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(Im Credits: Unsplash/AP)

19:40 IST, August 20th 2020