U.S Government amends the United States-Hong Kong Policy Act of 1992 in support of Hong Kong protestors
The United States President, Donald Trump on Wednesday, November 27, 2019, signed two legislations that amends the United States-Hong Kong Policy Act of 1992 and supports the pro-democracy protesters of Hong Kong. The bills amended are:
1)Hong Kong Human Rights and Democracy Act of 2019, under which the special trade status of Hong Kong will be reviewed annually under US laws, and sanctions against those officials who are found responsible for undermining the autonomy of Hong Kong and for human rights abuses.
2)Bans the sale and export of munitions- such as crowd control items like handcuffs, rubber bullets and tear gas to the Hong Kong police.
Consequences if Hong Kong losses special status in future-
The United States-Hong Kong Policy Act of 1992 provides Hong Kong special status or a different status than Mainland China in terms of commerce, trade, and other areas.
If Hong Kong losses the special status in the future than the Asian financial hub will be treated the same as laws that apply to Mainland China in terms of trade, commerce, and other areas.
Trade between Hong Kong and the U.S is estimated to be around $38 billion, which will be severely affected if Hong Kong losses the special status in the future.
Category: International Current Affairs