The latest US tariff hike targeting China will have a “limited” impact on Hong Kong as local businesses have adapted to years of the trade war by shifting their supply chains elsewhere, the city’s commerce chief has said.

Hong Kong aims to cut spending by slashing 10,000 civil service jobs in an effort to rein in a rising deficit, and plans a big AI push as it navigates headwinds from global economic uncertainty, geopolitical tensions and a weak property market.