May 29, 2020 — United States Secretary of State Michael Pompeo announced on 27 May that the State Department is recommending the revocation of Hong Kong’s special status, which would eliminate special tariff exemptions to the region.
Hong Kong’s special status was created in 1997, five years before the United Kingdom handed control of Hong Kong over to China with special conditions. The status gives Hong Kong special trade and economic status benefits, and the region currently has a zero tariff rate on U.S. imports.