Chief Executive John Lee has hit out at the United States for pressing ahead with legislation to close Hong Kong's trade offices in the country, saying US businesses will bear the brunt of such a move.

Last week, the US House of Representatives approved a bill that could shut down Hong Kong Economic and Trade Offices in New York, San Francisco and Washington, DC.

Speaking to reporters before the weekly Executive Council meeting on Tuesday, Lee called the bill a "shameless and ugly political tactic" aimed at attacking the SAR and China.

“These are political tactics to suppress the development of China and also Hong Kong. These are shameless and ugly political tactics… and [the US] is using [them] to attack its competitors, particularly when it fails to compete well,” he said.

"If the US is determined to go its way, then our country has already indicated that we will retaliate, and will retaliate with strong and resolute measures."

The chief executive also accused US politicians of pursuing their own political gains at the expense of a mutually beneficial trade relationship.

“The figures for the past 10 years indicate that the US has been making a big profit out of trade with Hong Kong... This trade surplus works to their advantage, and any acts to damage trade relations, I think those who suffer will be the US business sector,” he said.