The American Chamber of Commerce in Hong Kong (AmCham HK) said the United States should consider Hong Kong’s status as a separate customs territory when making tariff levy decisions.

In a media statement on Monday, AmCham HK said Hong Kong’s current predicament is unfortunate, as the city — a long-time supporter of the free economy and free trade — is caught in the middle.

“Hong Kong has a trade deficit with the US. In 2024, the US goods trade surplus with Hong Kong was $21.9 billion, highlighting a robust economic relationship characterized by mutual benefit and interdependence,” the statement said.

The US’ total goods trade with Hong Kong is estimated to be $33.8 billion, supporting close to 140,000 jobs in the US in sectors like agriculture, fashion, and manufacturing.

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The AmCham HK statement stressed that Hong Kong is a separate customs territory according to the General Agreement on Tariffs and Trade (GATT), whereby it operates a regulatory and legal trading framework that is distinct from the Chinese mainland’s, and should be considered separately in any trade policy decisions by trading partners.  

“As an independent and separate member of the World Trade Organization (WTO), Hong Kong’s economic and trade status is on par with other fellow WTO members. In addition, Hong Kong continues to uphold its status as a free port for the US and all other trading partners, not imposing tariffs on imports and not maintaining tariff rate quotas,” the statement added.

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The American business chamber organization said it believes that Hong Kong’s unique status and its critical role in global trade should be acknowledged, thereby fostering cooperation and economic growth for the Asia Pacific region.

“As many members are impacted by the current turbulence, AmCham HK remains hopeful for a swift resolution to the current situation that will bring more economic prosperity to both sides of the Pacific Ocean,” the statement said.

As a global services center, Hong Kong has a significant services relationship with the US in addition to its merchandise goods trade. The number of US regional headquarters, regional offices and local branches in Hong Kong has increased to 1,390 in 2024 from 1,273 in 2023, employing approximately 77,000 people in Hong Kong.  

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AmCham HK, with approximately 2,000 members, is one of the largest American chambers outside the US, and is the largest international chamber in Hong Kong.

In a video speech delivered at the 10th National Security Education Day on Tuesday, Xia Baolong, director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, slammed the imposition of tariffs by the US on the Hong Kong Special Administrative Region as extremely arrogant and shameless, and said the move is an attempt to undermine the city’s prosperity.

Hong Kong SAR Chief Executive John Lee Ka-chiu stressed Hong Kong’s commitment to its free port status, adding that the city sees both risks and opportunities amid the reshaped global trade order.