STATEMENT: CFHK WELCOMES U.S. PUBLICATION OF HONG KONG BUSINESS ADVISORY AND RELATED SANCTIONS DESIGNATIONS
Written by CFHK President, Ellen Bork.
On July 7, U.S President Joe Biden declared “an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States” with regard to the situation in Hong Kong. The order extended the same designation made by last July by former U.S. President Donald Trump under the International Emergency Economic Powers Act. The declaration gives the president extensive powers over economic transactions and is often used to impose sanctions. It may indicate the Biden administration is preparing to take actions in response to Beijing’s ferocious assault on freedom in Hong Kong.