United States Announces Termination Of Its Reciprocal Shipping Tax Exemption Agreement With Hong Kong

On August 19, 2020, the U.S. Department of State announced¹ that it had notified Hong Kong authorities of the termination, with immediate effect, of the United States — Hong Kong Exchange of Diplomatic Notes entered into in August of 1989. The Diplomatic Notes provided the basis upon which each country would exempt from tax shipping income earned from the transport of cargo to or from their respective ports.