Latest news with #export growth
South China Morning Post
11-05-2025
- Business
- South China Morning Post
Hong Kong will ‘play it safe' with growth figures amid US tariff war: Paul Chan
Hong Kong is unlikely to significantly adjust its estimates for the economy as there are major uncertainties externally, the city's finance chief has said, adding that export growth is expected to slow down after businesses rushed to beat US tariffs in the first quarter. Advertisement Financial Secretary Paul Chan Mo-po said on Sunday that the widespread effects of the US tariff war were a major concern across the board during his recent visits to international summits. 'There are major uncertainties over the economic outlook,' he told a radio programme. 'The US tariffs have a huge impact, so in the near future, to play it safe, we might not readily make major changes to our gross domestic product estimates.' The United States and China started trade talks in the Swiss city of Geneva this weekend, with US President Donald Trump calling it ' a very good meeting ' after discussions broke off on Saturday evening. Chan had forecast in his budget in February that the economy could see full-year growth of 2 to 3 per cent. Financial Secretary Paul Chan was in Italy last week for the Asian Development Bank's annual meeting. Photo: Handout
South China Morning Post
11-05-2025
- Business
- South China Morning Post
Hong Kong will ‘play it safe' with growth figures due to US tariffs: Paul Chan
Hong Kong is unlikely to significantly adjust its estimates for the economy as there are major uncertainties externally, the city's finance chief has said, adding that export growth is expected to slow down after businesses rushed to beat US tariffs in the first quarter. Advertisement Financial Secretary Paul Chan Mo-po said on Sunday that the widespread effects of the US tariff war were a major concern across the board during his recent visits to international summits. 'There are major uncertainties over the economic outlook,' he told a radio programme. 'The US tariffs have a huge impact, so in the near future, to play it safe, we might not readily make major changes to our gross domestic product estimates.' The United States and China started trade talks in the Swiss city of Geneva this weekend, with US President Donald Trump calling it ' a very good meeting ' after discussions broke off on Saturday evening. Chan had forecast in his budget in February that the economy could see full-year growth of 2 to 3 per cent. Financial Secretary Paul Chan was in Italy last week for the Asian Development Bank's annual meeting. Photo: Handout
