Hong Kong firms could feel the pinch of potential US sanctions on banks, but such a move could also backfire, observers say

Hong Kong’s trading and manufacturing firms could have a more difficult time in the coming months if the United States were to impose sanctions on banks, the city’s business leaders warned on Sunday.But local lawmakers and business leaders also questioned whether US President Donald Trump would roll out such punitive measures, as it could also affect American businesses – with potentially adverse effects on his re-election bid.The Trump administration is facing a deadline on Monday to identify,…

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