I'm here today to talk about our
relationship with China and several new
measures to protect American security
and prosperity China's pattern of
misconduct is well-known for decades
they've ripped off the United States
like no one has ever done before
hundreds of billions of dollars a year
were lost dealing with China especially
over the years during the prior
administration China raided our
factories offshore our jobs gutted our
industries stole our intellectual
property and violated their commitments
under the World Trade Organization to
make matters worse they are considered a
developing nation getting all sorts of
benefits that others including the
United States are not entitled to but I
have never solely blamed China for this
they were able to get away with the
theft like no one was able to get away
with before because of past politicians
and frankly past presidents but unlike
those who came before my administration
negotiated in Fort for what was right
it's called fair and reciprocal
treatment china has also unlawfully
claimed territory in the Pacific Ocean
threatening freedom of navigation and
international trade and they broke their
word to the world on ensuring the
autonomy of Hong Kong the United States
wants an open and constructive
relationship with China but achieving
that relationship requires us to
vigorously defend our national interests
the Chinese government has continually
violated its promises to us and so many
other nations these plain facts cannot
be overlooked or swept aside the world
is now suffering as a result of the
malfeasance of the Chinese government
China's cover-up of the Wuhan virus
allowed the disease to spread all over
the world instigating a global pandemic
that has cost more than
100,000 American lives and over a
million lives worldwide Chinese
officials ignored their reporting
obligations to the World Health
Organization and pressured the World
Health Organization to mislead the world
when the virus was first discovered by
Chinese authorities countless lives have
been taken and profound economic
hardship has been inflicted all around
the globe
they strongly recommended against me
doing the early band from China but I
did it anyway was proven to be 100%
correct
China has total control over the World
Health Organization despite only paying
40 million dollars per year compared to
what the United States has been paying
which is approximately 450 million
dollars a year we have detailed the
reforms that it must make and engage
with them directly but they have refused
to act because they have failed to make
the requested and greatly needed reforms
we will be today terminating our
relationship with the World Health
Organization and redirecting those funds
to other worldwide and deserving urgent
global public health needs
the world needs answers from China on
the virus we must have transparency why
is it that China shut off infected
people from Wuhan to all other parts of
China it went nowhere else it didn't go
to Beijing it went nowhere else but they
allowed them to freely travel throughout
the world including Europe and the
United States the death and destruction
caused by this is incalculable we must
have answers not only for us but for the
rest of the world this pandemic has
underscored the crucial importance of
building up America's economic
independence reshoring our critical
supply chains and protecting America's
scientific and technological advances
for years the government of China has
conducted illicit espionage to steal our
industrial secrets of which there are
many today I will issue a proclamation
to better secure our nation's vital
university research and to suspend the
entry of certain foreign nationals from
China who we have identified as
potential security risks I am also
taking action to protect the integrity
of America's financial system by far the
best in the world I am instructing my
presidential working group on financial
markets to study the differing practices
of Chinese companies listed on the US
financial markets with the goal of
protecting American investors investment
firms should not be subjecting their
clients to the hidden and undue risks
associated with financing Chinese
companies that do not play by the same
rules Americans are entitled to fairness
and transparency several of the most
significant actions we're taking pertain
to deeply troubling situations unfolding
in Hong Kong this week China
unilaterally imposed control over Hong
Kong security this was a plain violation
of Beijing's treaty obligations with the
United Kingdom in the Declaration of
1984 and explicit provisions of Hong
Kong's basic law it has 27 years to go
the Chinese government's move against
Hong Kong is the latest in a series of
measures that are diminishing the city's
long-standing and very proud status this
is a tragedy for the people of Hong Kong
the people of China and indeed the
people of the world China claims it is
protecting national security but the
truth is that Hong Kong was secure and
prosperous as a free society Beijing's
decision reverses all of that it extends
the reach of China's invasive state
security apparatus into what was
formerly a bastion of Liberty China's
latest incursion along with other recent
developments that degraded the
territory's freedoms makes clear that
Hong Kong is no longer sufficiently
autonomous to warrant the special
treatment that we have afforded the
territory since the handover China has
replaced its promised formula of one
country two systems' with one country
one system therefore I am directing my
administration to begin the process of
eliminating policy exemptions that give
Hong Kong different and special
treatment my announcement today will
affect the full range of agreements we
have with Hong Kong from our extradition
treaty to our export controls on dual
use technologies and more with few
exceptions we will be revising the State
Department's travel advisory for Hong
Kong to reflect the increased danger of
surveillance and punishment by the
Chinese state security apparatus we will
take action to revoke Hong Kong's
preferential treatment as a separate
customs and travel Territory from the
rest of China the United States will
also take necessary steps to sanctioned
PRC and Hong Kong officials directly or
indirectly involved in eroding hong
kong's on tana me and so and just if you
take a look
smothering absolutely smothering Hong
Kong's freedom directions will be strong
our actions will be meaningful more than
two decades ago when a rainy night in
1997 British soldiers lowered the Union
Flag and Chinese soldiers raised the
Chinese flag in Hong Kong the people of
Hong Kong felt simultaneously proud of
their Chinese heritage and their unique
Hong Kong identity the people of Hong
Kong hoped that in the years and decades
to come China would increasingly come to
resemble its most radiant and dynamic
City
the rest of the world was electrified by
a sense of optimism that Hong Kong was a
glimpse into China's future not that
Hong Kong would grow into a reflection
of China's past in every decision I will
continue to proudly defend and protect
the workers families and citizens of the
United States of America thank you very
much thank you