Prof. Francis Lui said tourism sector may be beneficiary of tariff war

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Trade tariffs initiated by U.S. President Donald Trump continue to bring uncertainties across the globe.

But an economics professor said on TVB's Straight Talk programme that the tariffs' overall impact on Hong Kong's economy will be small, and some sectors may even benefit from the situation.

FRANCIS LUI, Chair Professor, Macau Univ. of Science & Technology: "Hong Kong is a major re-export centre. So those people who are involved in re-exporting, or involved in logistics, will all have to suffer so much more. And then there's another effect, which is quite positive on Hong Kong. Hong Kong will try to retain a zero tariff rate for most of the products, and that will make Hong Kong a paradise for tourism. A lot of people will come to Hong Kong to buy goods which are much cheaper than what they can buy elsewhere. So, people from the mainland and people even from the U.S. may come to Hong Kong, and that could revive the tourism industry here."

Professor Lui also said he agreed with the vast majority of American economists that Trump cannot bring the manufacturing jobs back to the U.S.

Lui added Trump is implementing a lot of policies that are hurting U.S. service industries.