President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city’s autonomy.
Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city’s 7 million residents, and could be met with reprisals from Beijing.
More from Trump’s remarks:
- The president said the U.S. would be “terminating our relationship with the World Health Organization” because it had become entirely beholden to China. He said funds the U.S. would have contributed to the global health body will be redirected to other public health initiatives.
- Trump declared that China had “continually violated its promises to us and so many other nations” through unfair trade practices, industrial espionage and other violations.
- He did not refer to the “phase one” trade deal with China, signed in January, which at least nominally remains in place.
- Trump left the Rose Garden without taking questions on the events in Minneapolis.
In White House ceremonies and raucous campaign rallies, President Trump has celebrated a pair of “America First” trade deals he says will end the unfair treatment of American workers.