In this file photograph dated Nov 8, 2017, members of foreign chambers of commerce in Hong Kong listen to the gist of the achievements of the 19th CPC National Congress as detailed at the office of the Commissioner of the Ministry of Foreign Affairs of China in Hong Kong. (PARKER ZHENG / CHINA DAILY)
HONG KONG - Chambers of commerce in Hong Kong came out in condemnation of US President Donald Trump's decision to impose a 25 percent tariff on steel imports and 10 percent on aluminum with exemptions for close allies.
Five major chambers of commerce in Hong Kong issued a joint statement to condemn the US action
Five major chambers of commerce in Hong Kong - The Federation of Hong Kong Industries, the Chinese Manufacturers’ Association of Hong Kong, the Chinese General Chamber of Commerce, the Hong Kong General Chamber of Commerce and the Hong Kong Chinese Importers’ & Exporters’ Association - issued a joint statement to condemn the US action.
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The chambers expressed deep regret that the US chose to unilaterally implement “unfair and discriminatory” trade practices targeting individual countries or regions. In the joint statement, they protested against the fact that the US violated the principle of free trade and was not acting in conformity with the spirit of the World Trade Organization (WTO).
The US Chamber of Commerce in Hong Kong also urged the government not to impose sweeping tariffs, stating “tariffs are damaging taxes on American consumers. Tariffs of $30 billion a year would wipe out over a third of the savings American families received from the doubling of the standard deduction in tax reform. If the tariffs reach $60 billion, the impact would be even more devastating.”
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