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INFO ROUTINE PEKING, WASHINGTON
MAG 091/2
Amb
15
014462
MDLIAN 3450
TOP COPY COPY
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HI!) нк
WASHINGTON PLEASE PASS COPY TO HKETO.
US/CHINA: SECTION 301 NEGOTIATIONS AND MFN: EFFECT ON HONG KONG
THE SECRETARY FOR TRADE AND INDUSTRY AND THE POLITICAL ADVISER SPOKE TO NCNA ON 20 MARCH ON THE CONTINUING NEGOTIATIONS BETWEEN THE PRC AND THE US UNDER SECTION 301 OF THE US TRADE ACT.
2.
CHAU SAID WE APPRECIATED THAT THE TRADE DISPUTE WAS A MATTER BETWEEN CHINA AND THE US. IT WAS NOT OUR INTENTION TO INTERFERE. WE HOPED AGREEMENT COULD BE REACHED. BUT SHOULD THE TWO SIDES FAIL TO REACH AGREEMENT AND SHOULD CONSIDERATION THEN BE GIVEN TO RETALIATION AND COUNTER-RETALIATION, THERE COULD BE SERIOUS ECONOMIC CONSEQUENCES FOR HONG KONG. WE HOPED THE CHINESE AUTHORITIES WOULD TAKE FULLY INTO ACCOUNT HONG KONG'S INTERESTS. WE HAD MADE THE SAME POINT TO THE US AUTHORITIES ON SEVERAL OCCASIONS.
3. ON MFN, WE SAID THAT WE WERE GLAD THAT THE US SENATE VETO OVERRIDE ATTEMPT HAD FAILED BUT THAT THERE WAS NO ROOM FOR COMPLACENCY. HONG KONG HAD DONE MUCH IN SUPPORT OF UNCONDITIONAL MFN RENEWAL AND WOULD KEEP UP OUR EFFORTS IN THAT DIRECTION.
4. WE GAVE THEM A COPY OF OUR LATEST ASSESSMENT OF THE LIKELY IMPACT ON HONG KONG'S ECONOMY SHOULD CHINA LOSE MFN. (COPIES WILL BE SENT TO YOU AND PEKING BY BAG. GRATEFUL IF HKETO WOULD PROVIDE A COPY TO WASHINGTON).
WILSON
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