The State of US-China Relations: Practical Implications for Hong Kong and Global Businesses
Against the backdrop of steadily escalating US-China tensions and the ensuing reactive measures imposed by each country, international businesses continue to grapple with how best to respond to multi-dimensional trade, technology and national security challenges and to align strategies under both regimes. Two current actions involving Hong Kong – the Hong Kong Autonomy Act and Beijing’s planned Hong Kong National Security Law – are a microcosm of the evolving US-China commercial relationship, illustrating broader trends and complexities in bilateral relations.
- On May 21, 2020, the Hong Kong Autonomy Act—a new bipartisan bill related to China’s actions involving Hong Kong—was introduced by US Senators Pat Toomey and Chris Van Hollen. The bill would require a report identifying foreign persons materially contributing to or attempting to materially contribute to the failure of the Chinese Government to meet its obligations under the Joint Declaration between the UK and China with respect to Hong Kong or the Basic Law of Hong Kong.
- On May 28, 2020, China’s National People’s Congress authorized the Chinese legislative body to take steps to pass and enact a national security law in Hong Kong. The sweeping security legislation would ban secession, subversion of state power, terrorism and foreign intervention in Hong Kong.
To help navigate the tumultuous US-China regulatory and commercial landscape, we invite you to watch the below quick-hitting webcast interview focused on the current state of US-China relations, practical implications for international businesses, and opportunities for multinationals to reduce their risks as the situation evolves. The recording features Ambassador Susan Schwab, Strategic Advisor with Mayer Brown and former US Trade Representative, who moderated the discussion with partner Tamer Soliman, Global Head of our Export Controls & Sanctions practice in Washington DC.
