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.
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On August 20, the government of Hong Kong condemned the United States' decision to suspend bilateral extradition and tax exemption treaties with Asia's largest financial hub. American authorities formally informed Hong Kong about the withdrawal on August 19. Previously, countries like Canada, Australia and Britain have also suspended such agreements. This announcement came after the United States President Donald Trump’s decision to cancel Hong Kong’s preferential trade status.
Hong Kong slams US' decision of suspending treaties
According to reports by AP, the statement said, “The US’ unilateral decision reflects its disrespect for bilateralism and multilateralism under the current administration and should be condemned by the international community. The HKSAR Government strongly objects to and deplores the US’ action, which is widely seen as a move to create troubles in the China-US relationship, using Hong Kong as a pawn”. Companies manufacturing in Hong Kong will now have to label their products as 'Made in China', particularly those meant for export to the United States.
Reports suggest that a new notification issued by the US Customs & Border Protection said that goods made for export to the United States will need to be labeled as made in China after September 25. This comes as the United States determined that Hong Kong is no longer sufficiently autonomous to enjoy a different treatment than mainland China. As per the notice issued by the CBP, the same trade tariffs will be imposed on Hong Kong as on exporters from China.
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 they have an international dimension, like Hong Kong and Xinjiang, the Chinese have a demonstrated disdain for outside opinion and are inflexible in reaction to it”. Talking about the situation of Hong Kong, lawmakers from Hong Kong’s Democratic Party said that all of them have planned to hold a debate in order to conclude if they will continue serving in the legislature for another year or not as the elections have been postponed due to the novel coronavirus. James To, a member of the Democratic party said that, “We would prepare at least one debate in order … to have a comprehensive range of arguments and points so that the whole society can decide”.
(Image Credits: Unsplash/AP)
19:40 IST, August 20th 2020