Hong Kong Construction Association: Support the SAR Government's opposition to US unilateral tariff measures.

The Hong Kong SAR government recently issued a statement strongly opposing the United States' imposition of so-called retaliatory tariffs on Hong Kong products and the revocation of the small exemption for Hong Kong products. The Hong Kong Construction Association stated that it will fully support the government's position and strongly oppose this bullying behavior by the United States, believing that it not only violates international trade rules but also harms Hong Kong's free business environment. In the face of current challenges, the Hong Kong Construction Association will work closely with the industry to take effective measures, including diversifying sources of supply, optimizing logistics arrangements, and strengthening cooperation with other trading partners to mitigate the long-term impact on the industry. According to data, the United States is Hong Kong's third largest trading partner in 2023, with bilateral merchandise trade totaling 60.3 billion US dollars. Over the past decade, the United States has had a trade surplus with Hong Kong of up to 271.5 billion US dollars, the highest among its global trading partners. Unilateral actions by the United States not only damage Hong Kong's interests but also have a negative impact on its own economy, making it a shortsighted act of self-harm. The statement pointed out that as a free port, Hong Kong has always supported and practiced free trade and has never imposed tariffs on any imported goods, including those from the United States. The United States' imposition of tariffs on Hong Kong products under the guise of retaliatory tariffs is baseless and completely contrary to basic trade logic. For the construction industry, a stable global supply chain and a free trade environment ensuring the free flow of building materials, technology, and equipment are crucial for the industry's sustainable development. The Construction Association is particularly concerned about the potential impact of the United States' actions on the local economy and the industry.