Business groups are urging U.S. President Donald Trump to go slowly in responding to Bejing's planned imposition of new national security laws on Hong Kong, warning revoking the city's special U.S. privileges will hurt the territory and its people.

U.S. Secretary of State Mike Pompeo declared on Wednesday China's actions had voided Hong Kong's autonomy.

That cleared the way for White House steps ranging from imposing sanctions on some senior Chinese officials to fully ending the 22-year U.S. practice of treating Hong Kong separately from China on trade, visas, investments and export controls.