Hong Kong, China - June 30, 2020 (HKTVB - No access Chinese mainland/Hong Kong)
1. Carrie Lam, Chief Executive of China's Hong Kong Special Administrative Region (HKSAR), walking to podium
2. SOUNDBITE (Chinese) Carrie Lam, Chief Executive, China's Hong Kong Special Administrative Region (partially overlaid with shot 3):
"The impact [on Hong Kong] won't be too great. Just as I said, we may find alternatives to many products in other places. We will not be frightened by any sanctions as we are prepared. When necessary, I believe that our country will also take counter-measures. If necessary, we will do our best to cooperate with the central government when it adopts countermeasures at the diplomatic level."

Hong Kong, China - June 15, 2020 (CCTV - No access Chinese mainland)
++SHOT OVERLAYING SOUNDBITE++
3. HKSAR government complex, Chinese national flag, flag of HKSAR
++SHOT OVERLAYING SOUNDBITE++
4. Chinese national flag, flag of HKSAR
5. Various of harbor, buildings

Chief Executive of China's Hong Kong Special Administrative Region (HKSAR) Carrie Lam said Tuesday that Hong Kong will not be frightened by any sanctions, when responding to the U.S. revocation of Hong Kong's special status.

Lam told a press conference that Hong Kong has made preparations for the U.S. move and estimated that the trade restrictive measures will only cause a little inconvenience, stressing that the impact on Hong Kong's technological innovation sector will be limited.

"The impact [on Hong Kong] won't be too great. Just as I said, we may find alternatives to many products in other places. We will not be frightened by any sanctions as we are prepared. When necessary, I believe that our country will also take counter-measures. If necessary, we will do our best to cooperate with the central government when it adopts countermeasures at the diplomatic level," she said.

The U.S. Commerce Department has announced the decision to suspend preferential trade treatment to Hong Kong, including the availability of export license exceptions, under the pretext of a national security legislation in Hong Kong.

Lam added the United States enjoys the highest surplus worldwide in its trade with Hong Kong, with about 30 billion U.S. dollars a year.