Hong Kong Chief Executive John Lee criticized the US for its trade policies, calling them reckless and damaging to global trade. He outlined strategies to mitigate the impact of US tariffs by furthering integration with mainland China and pursuing more free-trade agreements.
The article notes that despite the negative impact of the trade war, Hong Kong's Hang Seng Index closed up 1.5% on Tuesday, with Chinese state funds supporting the market. It also highlights the substantial market fluctuations, including a record turnover of HK$620 billion (US$79.74 billion) and the significant one-day loss on Monday.
The central government's vow to take countermeasures against further tariff increases underscores the focus on closer economic ties between Hong Kong and mainland China as a strategy to offset the impact of US tariffs.