Hong Kong’s top leader, John Lee, announced that the territory plans to sign additional free trade agreements to mitigate the impact of U.S. tariffs. Hong Kong is subject to the same 54% combined tariff imposed on mainland China, with the latest 34% set to take effect tomorrow.
Lee criticized the U.S. for undermining global trade rules, calling its tariff actions "reckless" and harmful to multilateral trade. He also confirmed that Hong Kong would not retaliate with tariffs on U.S. goods and would continue to operate as a free port. Lee, who is under U.S. sanctions, added that the territory would seek to protect its economic interests through trade diversification.
