Trump signs order revoking Hong Kong's special status

(Patria) – US President Donald Trump on Tuesday ordered the revocation of Hong Kong's special status to punish China for its "oppressive actions" against the former British colony.

Citing China's decision to introduce a new security law, Trump signed an executive order ending preferential economic treatment for Hong Kong.

"No special privileges, no special economic treatment, and no export of sensitive technologies," the US President stressed at a press conference.

On the same day, he also signed a bill previously passed by the US Congress, penalizing banks doing business with Chinese officials implementing the new security law in Hong Kong.

"Today, I signed an act and an executive order to hold China accountable for its aggressive actions against the people of Hong Kong," Trump said, adding that from now on, Hong Kong will be treated the same as mainland China.

China's Ministry of Foreign Affairs stated on Wednesday that official Beijing will retaliate with sanctions against US individuals and entities in response to the bill concerning banks. "Hong Kong affairs are China's internal affairs, and no foreign country has the right to interfere," the Chinese ministry stated.

Critics of the security law fear that the act could jeopardize the freedoms and rights promised to Hong Kong when it was returned to Chinese administration in 1997, while supporters of the Chinese government believe the law will bring stability after a year of anti-government protests.   

US relations with China have been tense for some time due to the Covid-19 pandemic that originated in China, China's military buildup in the South China Sea, the treatment of Uyghur Muslims, as well as huge trade surpluses.