China signals possible return of U.S. trade privileges for Hong Kong

China signals possible return of U.S. trade privileges for Hong Kong July 17, 20263:16 PM ET By  The Associated Press FILE - The U.S. and Chinese flag at the Great Hall of the People prior to the state dinner of President Donald Trump and Chinese President Xi Jinping on May 14, 2026, in Beijing. Mark Schiefelbein/AP hide caption toggle caption Mark Schiefelbein/AP HONG KONG — China signaled on Friday that the United States could restore Hong Kong 's preferential privileges, saying Washington confirmed it will not renew an executive order that revoked the city's special trading status. The Commerce Ministry said that the U.S. made commitments on Hong Kong issues and other matters during the U.S.-China trade talks in Madrid last year. The U.S. recently confirmed to China that the President's Executive Order on Hong Kong Normalization would end, the ministry said in a statement responding to media questions. "The U.S. side's actions represent an important step in fulfilling the consensus reached during the bilateral economic and trade talks. China appreciates it," it said. Sponsor Message It is not immediately clear what all the implications of the decision are. The White House referred questions about the executive order lapsing to the Treasury Department. The U.S. Office of Foreign Assets Control said in a statement Friday that the national emergency declared in the executive order had expired and that it delisted people who were sanctioned under the order. But it said people who remain sanctioned under another act related to Hong Kong have been added to a different sanction list. The statement showed Hong Kong leader John Lee and his predecessor, Carrie Lam, were removed from the first list but added to the second one. The U.S. decision came two months after President Donald Trump met with his counterpart Xi Jinping in Beijing. It could warm ties between them ahead of Xi's expected visit to the U.S. later this year. Earlier this month, a pastor of a prominent u...