https://sg.finance.yahoo.com/news/trump-aides-weighed-proposals-undermine-022404563.html
There is no way for a country to interfere in another country's currency peg because it is a government's monetary policy. In other words, only the HK government can peg or de-peg from the USD because the HK government can buy and sell the USD as it deems fit. Furthermore, HK has the support of China which has the largest foreign reserves.
How do you stop another state from buying or selling your currency? It's almost impossible especially since that state is part of China.
Trump's aides are really dumb because they cannot ban HK from using USD since HK is part of China unless they want to ban China from using USD. Banning China from using USD will cause USD to depreciate beyond the US's control and hyperinflation will happen overnight.
This is why I'm not concerned about this HK-USD peg issue because the US has no control over this.
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