What Hong Kong Losing Its U.S. ‘Special Status’ Means

Under the United States-Hong Kong Policy Act of 1992, the U.S. treated Hong Kong, a semi-autonomous part of China with its own legal and economic system, differently than the Chinese mainland in trade, commerce and other areas. President Donald Trump, punishing China for moves to tighten its grip on the city after a year of pro-democracy street protests, says Hong Kong’s special status is now a thing of the past. At its most extreme, that could mean the global financial hub is treated the same as any other Chinese city -- a seismic shift that could harm both economies at an already difficult time.

He announced on July 14 that he had signed an executive order ending Hong Kong’s special status. His administration had telegraphed the move for weeks. On May 27, Secretary of State Michael Pompeo notified Congress that the White House no longer regarded Hong Kong as autonomous from mainland China. On June 29, Commerce Secretary Wilbur Ross said that meant the special status had been revoked.