Li Ka-chao: The indiscriminate imposition of tariffs by the United States is a bullying and barbaric act. Hong Kong will address the challenge from seven aspects.
08/04/2025
GMT Eight
US President Trump has launched "reciprocal tariffs," imposing a cumulative 54% tariff on China. Hong Kong Chief Executive John Lee Ka-chiu criticized before attending an executive meeting that the US no longer adheres to free trade, arbitrarily disrupting the world trade rules established internationally, engaging in "bullying and barbarism," damaging global trade, severely disrupting the multilateral trading system and the process of globalization. John Lee Ka-chiu pointed out that the SAR government's response strategy involves seven aspects, including seizing national development opportunities and actively integrating into the national development plan.
John Lee Ka-chiu also denounced the US for "rampantly imposing tariffs," affecting different countries and regions globally, with significant tariff increases and a wide range of product coverage, disrupting the world economic and trade order, and bringing great risk and instability to the world. The Hong Kong SAR government's response strategy involves seven aspects: 1. Seizing national development opportunities and integrating into the national development plan; 2. Strengthening international exchanges and cooperation; 3. Accelerating industrial upgrading and transformation, promoting an economy driven by high value-added innovation; 4. Enhancing development in science and technology; 5. Promoting international financial cooperation vigorously; 6. Grasping the trend of risk diversification among multiple countries, attracting funds to Hong Kong; 7. Continuing to support the industry and assisting the industry in facing challenges.