US President Donald Trump has signed an executive order to end preferential economic treatment for Hong Kong.
The move was in retaliation for what he called China’s "oppressive actions" against the former British colony.
Trump cited China's decision to enact a new national security law for Hong Kong.
"No special privileges, no special economic treatment and no export of sensitive technologies," he told a news conference.
"Hong Kong will now be treated the same as mainland China," added Trump.
He also signed a bill approved by the U.S. Congress to penalise banks doing business with Chinese officials who implement the new security law.
The Chinese foreign ministry has condemned the latest US moves, urging Washington to stop interfering in China's internal affairs.
Critics of the new security law in Hong Kong fear it will crush the wide-ranging freedoms promised to the territory when it returned to Chinese rule in 1997, while supporters say it will bring stability to the city.
US President Donald Trump threatened to cut off government contracts with billionaire Elon Musk's companies, while Musk suggested Trump should be impeached, beginning an all-out brawl on social media.
Ten Palestinians were killed by Israeli tank fire in Gaza on Friday, local health authorities said, as a US group handing out aid in the enclave said all its distribution sites were closed until further notice.
Israeli air strikes pummelled the southern suburbs of Lebanon's capital late on Thursday, sending thousands of people fleeing on the eve of Eid Al Adha.
Russia launched an intense missile and drone barrage at the Ukrainian capital in the early hours of Friday killing three people, Ukrainian officials said, as powerful explosions reverberated across the country.
Police in India's tech capital of Bengaluru have arrested four people, including an official of a top cricket franchise, in connection with a stampede during a trophy celebration that killed 11 people and injured 47, media reported.