Hong Kong businesses have braced themselves for additional US tariffs, but experts urged companies to develop alternative strategies due to proposed export controls on American-made critical software, warning of a “painful” adjustment.

Industry figures told the Post on Saturday that United States President Donald Trump’s threat to impose an additional 100 per cent tariff on mainland China from November 1 would not significantly impact Hong Kong businesses, which are used to uncertainties from his administration.

The announcement followed the mainland’s plans on Thursday to limit export controls of rare earths.

Allen Shi Lop-tak, honorary president of the Chinese Manufacturers’ Association, said that with the rare earth restrictions, the mainland had already anticipated countermeasures from Trump.

“Trump might add another 100 or 200 per cent but it does not really have much effect any more,” he said, adding that the move was merely “ideological.”

“For manufacturers, those who needed to move production have already relocated to Southeast Asian countries.”