China Vows To Retaliate To Trump's Hong Kong Sanctions

On Wednesday, China said that it would retaliate after US President Donald Trump signed into law an act allowing sanctions on banks over Beijing's interference with Hong Kong's autonomy.

The Hong Kong Autonomy Act "maliciously slanders" national security legislation imposed by Chinese authorities on the city, said China's foreign ministry in a statement.

"China will make necessary responses to protect its legitimate interests, and impose sanctions on relevant US personnel and entities," the ministry said.

On Tuesday evening, American President Trump also said he signed an executive order ending the preferential treatment that Hong Kong has long enjoyed.

"Hong Kong will now be treated the same as mainland China," Trump said in a lengthy speech at the White House Rose Garden.

"No special privileges, no special economic treatment and no export of sensitive technologies. In addition to that, as you know, we are placing massive tariffs and have placed very large tariffs on China," he added.

The Hong Kong Autonomy Act would slap mandatory sanctions on Chinese officials and companies that have helped back Beijing's imposition of a security law that clamps down on dissent in Hong Kong.