Staff reporter
The Hong Kong Trade Development Council has trimmed its forecast for Hong Kong's export growth this year by 0.5 percentage points to 3.5 percent as the new US tariffs bite.
The new levies are expected to have only a mild impact on Hong Kong as its dependence on the US market is relatively low, said HKTDC director of research Irina Fan Yuen-yee.
In an interview with local broadcaster Radio Television Hong Kong, Fan said Hong Kong's exports to the United States account for a far smaller proportion of the total compared to other nations like Canada and Mexico, where figures reach as high as 70 to 80 percent.
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