<p> US President Donald Trump said Tuesday he was ending trade preferences for Hong Kong and signed into law an act that authorizes sanctions on banks over China's clampdown in the city.</p>.<p>In a news conference driven by criticism of his domestic rivals, Trump declared himself to be tougher than ever on China including over its treatment of the financial capital.</p>.<p>"Hong Kong will now be treated the same as mainland China -- no special privileges, no special economic treatment and no export of sensitive technologies," Trump said in the White House Rose Garden.</p>.<p>"Their freedom has been taken away; their rights have been taken away," Trump added.</p>.<p>"And with it goes Hong Kong, in my opinion, because it will no longer be able to compete with free markets. A lot of people will be leaving Hong Kong."</p>.<p>Trump said he had signed into law the Hong Kong Autonomy Act, which passed overwhelmingly in Congress as Beijing pushed through a tough national security law in Hong Kong.</p>.<p>The new US law authorizes sanctions against Chinese officials and Hong Kong police seen as impeding on the city's autonomy -- and, crucially, any banks that make significant transactions with them.</p>.<p>Lawmakers earlier said that some officials of the Trump administration had hesitated over the legislation because it reduces the president's ability to waive sanctions.</p>.<p>China's new law in Hong Kong criminalizes subversion among other offences, sending a chill through the city that was promised autonomy before Britain handed it back in 1997.</p>
<p> US President Donald Trump said Tuesday he was ending trade preferences for Hong Kong and signed into law an act that authorizes sanctions on banks over China's clampdown in the city.</p>.<p>In a news conference driven by criticism of his domestic rivals, Trump declared himself to be tougher than ever on China including over its treatment of the financial capital.</p>.<p>"Hong Kong will now be treated the same as mainland China -- no special privileges, no special economic treatment and no export of sensitive technologies," Trump said in the White House Rose Garden.</p>.<p>"Their freedom has been taken away; their rights have been taken away," Trump added.</p>.<p>"And with it goes Hong Kong, in my opinion, because it will no longer be able to compete with free markets. A lot of people will be leaving Hong Kong."</p>.<p>Trump said he had signed into law the Hong Kong Autonomy Act, which passed overwhelmingly in Congress as Beijing pushed through a tough national security law in Hong Kong.</p>.<p>The new US law authorizes sanctions against Chinese officials and Hong Kong police seen as impeding on the city's autonomy -- and, crucially, any banks that make significant transactions with them.</p>.<p>Lawmakers earlier said that some officials of the Trump administration had hesitated over the legislation because it reduces the president's ability to waive sanctions.</p>.<p>China's new law in Hong Kong criminalizes subversion among other offences, sending a chill through the city that was promised autonomy before Britain handed it back in 1997.</p>