Hong Kong is seeking to expand its trade networks by tapping into new markets in Latin America, Africa and Central Asia amid the easing of the US tariff war, the minister has said, expressing confidence that export growth will continue due to stronger ties with Southeast Asia.

With the truce, a 10 per cent so-called reciprocal tariff imposed by the United States on imports from Hong Kong and mainland China will remain in effect until August.

“Despite the meeting between presidents Xi and Trump at the leaders’ summit, and the announcement of some new or extended measures, the issues between the US and China have not been fully resolved. Every country is seeking new directions,” he told a radio programme.

“Many member countries shared a consensus on the need for increased multifaceted cooperation and a strong rejection of unilateralism.”