Head of Federation of Hong Kong Industries says local firms should ‘wait and see’ to decide next steps amid erratic moves by President Trump.
The erratic tariff announcements by US President Donald Trump have created an environment where it is “impossible for anyone to do business”, according to a Hong Kong industry leader, who has said the shifting policies mean local firms must “wait and see” to decide on their next steps.
Steve Chuang Tzu-hsiung, chairman of the Federation of Hong Kong Industries, shared his concerns on Thursday amid an escalating trade war between the United States and China, as a 125 per cent import tariff by the US kicked in on Wednesday for most Chinese goods while so-called reciprocal levies on most other markets were paused for 90 days.
