Secretary of State Mike Pompeo said he certified to Congress Wednesday that
Hong Kong no longer enjoys a high degree of autonomy from China -- a decision that could result in the loss of Hong Kong's special trading status with the US and threaten its standing as an international financial hub.
President Donald Trump and Congress will decide what actions to take as a result of the certification which comes at a time of increased tensions with Beijing as the two countries trade barbs over the
coronavirus pandemic.
Ending a special trading relationship that has existed for decades would carry costs for American business, rattle an already fragile global economy and hurt Hong Kong more than China, experts warn.