Four U.S. Cabinet agencies last week issued an advisory alerting companies about the shifting legal landscape in Hong Kong and warning them of the possibility that engaging with Hong Kong business could incur reputational and legal damages.
A joint announcement earlier this week from the U.S. Treasury Department and the State Bank of Vietnam that an agreement has been reached to address U.S. concerns with Vietnam’s currency practices has, for the time being at least, removed the threat of punitive Sec. 301 tariffs being imposed on Vietnamese imports.
The new advisory urges U.S. businesses to exit supply chains connected to Xianjing and warns that those who do not “could run a high risk of violating U.S. law.”
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