Washington, May 30: US President Donald Trump has threatened to revoke special trade and travel privileges for Hong Kong after China moved to impose new security laws on the former British colony. Describing China's decision to impose a new security law on Hong Kong as a "tragedy", Donald Trump said his administration would take steps to revoke Hong Kong's preferential treatment as a separate customs and travel territory apart from the rest of China. Donald Trump Announces 'Termination' of US Relationship With WHO, Continues Tirade Against China.

"China has replaced One Country, Two Systems with One Country, One System," President Trump told reporters, adding that he longer considers Hong Kong to be separate from China. "The Chinese government moves against Hong Kong is the latest in a series of measures that are diminishing the city's long-standing and very proud status. This is a tragedy for the people of Hong Kong, the people of China and indeed the people of the world," he further said. US, China at 'Brink of New Cold War', Says Chinese Foreign Minister Wang Yi.

Unlike in China, Hong Kong has unique freedoms. President Trump said his administration would impose sanctions on Chinese and Hong Kong officials who were believed by Washington to be involved in eroding the territory's autonomy. He said the US would restrict Chinese nationals with ties to the People’s Liberation Army from obtaining student and work-exchange visas.

This is yet another episode in the confrontation between the two superpowers and comes after US Secretary of State Mike Pompeo told Congress earlier that Hong Kong could no longer be considered autonomous from China, which may have serious commercial implications for Beijing given that preferential trading terms depend on this autonomy.

What is China's New Security Law For Hong Kong?

On May 22, a resolution to "prevent, frustrate and punish" threats to national security in Hong Kong was presented to China's legislature, the National People's Congress (NPC). The draft legislation would outlaw acts of secession, subversion and terrorism. The resolution is expected to be passed on May 28, authorising the NPC Standing Committee, China's top legislative body, to craft the law and impose it on Hong Kong, bypassing the city's legislature.

(The above story first appeared on LatestLY on May 30, 2020 08:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).