US formally suspends three accords with Hong Kong over China's new security law

The ongoing rift between two superpowers -- US and China continues to worsen with both the countries backlashing at each other. In the latest, the Donald Trump administration has announced to suspend three bilateral agreements with Hong Kong including extradition and tax exemptions over China's newly introduced strict national security law for the former British territory.

"The Chinese Communist Party chose to crush the freedoms and autonomy of the people of Hong Kong," Secretary of State Mike Pompeo tweeted.

The announcement came after President Donald Trump decided to revoke Hong Kong's preferential trade status following China's clamping as violent protests broke out in the territory last year. The three agreements cover the surrender of fugitives, transfer and convicted prisoners and reciprocal tax exemptions on income from international shipping.

"These steps underscore our deep concern regarding Beijing’s decision to impose the National Security Law, which has crushed the freedoms of the people of Hong Kong,” State Department spokeswoman Morgan Ortagus said in a statement.

She further said the Hong Kong government has been notified of the suspension. The administration had earlier informed of ending special trade and commercial privileges that Hong Kong enjoyed, imposing sanction son Hong Kong and Chinese authorities.

Beijing had earlier stated Hong Kong will follow "one-country, two-systems" arrangement for 50 years, allowing the city to have its own legal system after Britishers handed over the territory in 1997. However, Chinese mainland tried to acquire the city by introducing new security law and revoking the right to public dissent in Hong Kong.

"President Trump has made clear that the United States will, therefore, treat Hong Kong as 'one country, one system' and take action against individuals who have crushed the freedoms of the people of Hong Kong," Ortagus said in the statement.

Meanwhile, the Hong Kong government has said the US decision to end the agreements displayed "disrespect for bilateralism and multilateralism under the current administration and should be condemned by the international community".