Hong Kong to launch measures to boost companies in wake of tariff hit, financial secretary says
Hong Kong, April 7 (Reuters) - Hong Kong's government said on Monday that it would bolster support for small and medium sized companies to help weather the storm from U.S. President Donald Trump's sweeping tariff plans which are set to deepen the pain for local exporting companies.
Hong Kong as a trade hub will unavoidably be affected by U.S. tariffs in the short term but remains the most open economy and welcomes investments, financial Secretary Paul Chan told a press conference, adding that being a "free port" remains the core advantage of the city.
Hong Kong stocks experienced their biggest drop since 1997 on Monday after Beijing fired back at U.S. tariffs with its own trade levies, deepening market turmoil amid fears of a widening trade war, while China's sovereign wealth fund intervened to stabilise local shares.
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