Trump indicators into legislation Hong Kong Autonomy Act, suspends particular privileges

Washington, July 15

US President Donald Trump signed into legislation the Hong Kong Autonomy Act on Tuesday and in addition signed an govt order ending US preferential remedy for Hong Kong.

“Today, I signed legislation and an executive order to hold China accountable for its oppressive actions against the people of Hong Kong,” Trump informed reporters at a White House press convention.

The Hong Kong Autonomy Act was handed unanimously by the Congress, he stated, including that the legislation provides his administration highly effective new instruments to carry accountable the people within the entities concerned in extinguishing Hong Kong’s freedom.

“We have all watched what occurred, not a very good scenario. Their freedom has been taken away, their rights have been taken away and with it goes to Hong Kong in my view, as a result of it’ll now not be capable of compete with free markets. Lots of people might be leaving Hong Kong I believe and we’re going to do much more enterprise due to it as a result of we simply misplaced one competitor, Trump stated.

“We lost a very, very serious competitor, a competitor that we incentivised to take a lot of business and do well, and we gave them a lot of business by doing what we did. We gave them things that nobody else had the right to do and that gave them a big edge over other markets, and because of that edge, they have some really historic business, tremendous business, far bigger than anybody would have thought years ago when we did this gift. It was really a gift to freedom,” President Donald Trump added.

He additionally stated he signed an govt order ending US preferential remedy for Hong Kong.

“Hong Kong will now be treated the same as in mainland China. No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China. The first time this has ever happened to China, billions of dollars have been paid to the US, of which I have given quite a bit to the farmers and ranchers of our country because they were targeted, and that has been going on for three years,” he stated.

This was the primary time anyone did something like that and previous to the plague pouring in from China, they had been having the worst yr economically in 67 years, Trump stated.

“I do not want them to have a bad year. I want them to have a good year but they were taking advantage of the US for years and that is stopping. But then the virus came in and the world is a different place. But we are now getting back and one of the reasons the market is doing so — it is almost at the point that it was at prior to the plague. It is a great thing, it is an amazing thing what our people have done and what they have endured,” he stated.

Trump stated no administration had been harder on China than his administration.

“We imposed historic tariffs, we stood up to China’s intellectual property theft at a level that nobody has ever come close, we confronted on trustworthy Chinese technology and telecom providers. We convinced many countries and I did this myself, for the most part, not to use Huawei because we think it is an unsafe security risk, it is a big security risk. I talked many countries out of using it. If they want to do business with us, they cannot use it,” he stated.

In his prolonged opening remarks, Trump rued that his predecessors “were really a puppet” of China.

“Make no mistake, we hold China fully responsible for concealing the virus and unleashing it upon the world. Could have stopped it, they should have stopped it. It would have been very easy to do at the source when it happened. In contrast, Joe Biden’s entire career has been a gift to the Chinese Communist Party and to the calamity of errors that they have made. They have made so many errors and it has been devastating for the American worker,” he stated.

China, Trump alleged, has taken out lots of of billions of {dollars} a yr from the US.

“We rebuilt China, gave them all the credit in the world. I do not give the credit for the people that used to stand here because they allowed this to happen where hundreds of billions of dollars were taken out of the US Treasury in order to rebuild China, Trump said, adding “There is no country in the world that has ever ripped off the US like the incredible job that they did on this country and the people that ran it, possibly it is one of the reasons, certainly it is one of the very big reasons trade and things related to trade that I got elected in the first place,” he stated.

Trump alleged that his Democratic challenger, former vp Joe Biden, supported China’s entry into the World Trade Organisation, one of many best geopolitical and financial disasters in world historical past.

“If you look at China, you look at the moment they joined the world trade, they were flatlining for years and years and years and decades and then, all of a sudden, they join the World Trade Organisation and they went like a rocket ship,” he stated.

“They were given all sorts of advantages. They were considered a developing country. As a developing country, they got tremendous advantages over the US and other countries, and they took advantage of those advantages and then some. Biden personally led the effort to give China the permanent most-favoured-nation status, which is a tremendous advantage for a country to have. A few countries have it, but the US does not have it, never did, probably never even asked for it because they did not know what they were doing,” Donald Trump stated. PTI

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