U.S. legislation that could strip Hong Kong of its preferential trade status is dividing protesters and business groups
HONG KONG—U.S. legislation that could strip Hong Kong of preferential trade status if Beijing encroaches on the region’s political freedoms is dividing protesters who fought for it and business groups that fear it paves the way for economically painful measures.
The bill, passed by the House and Senate, calls for the U.S. secretary of state to certify annually that Hong Kong is independent enough from Beijing to retain favored trading status, which for decades has helped it to flourish as a global financial and trading center.
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