US companies in Hong Kong to suffer from US sanctions

Even though it is none of its business, Washington has announced its plans to impose trade sanctions on Hong Kong because China's top legislature has announced it will draw up national security legislation for the particular administrative region.

The Report says that American companies in Hong Kong will be severely affected if the US administration imposes sanctions on the region.

As it notes, if the US still " revoke the status of Hong Kong as a separate customs zone, American companies and many of their employees will pay a high price." As the publication notes, about 85 thousand Americans live and work in Hong Kong, and over 13 thousand American companies operate there. According to statistics, US exports of goods and services from Hong Kong, along with their direct investment, create approximately 210 thousand jobs in the United States.

Washington has "huge economic interests" in Hong Kong, as this territory provides large profits for American businesses, and revenues from trade with Hong Kong bring the US $ 30 billion annually, the newspaper says.