Following a recent announcement by the Department of State that Hong Kong is no longer sufficiently autonomous from mainland China to justify being treated as a separate territory in economic & trade matters, Trump announced a change in U.S. policy that, if implemented, will have a significant impact on imports from and exports to Hong Kong. The two specific actions he will direct his administration to take include:
Revoking U.S. treatment of Hong Kong as a separate customs territory, which is expected to result in the extension of the Section 301 additional tariffs on Chinese goods as well as the extension of antidumping and countervailing duties on goods from China to products made in Hong Kong
Modifying U.S. controls on exports of dual-use technologies to Hong Kong, which may lead to the imposition of tighter restrictions on such exports
Additionally, a potential policy change may affect travel, visas, university research, and Chinese companies listed on U.S. stock exchanges.
Source: Sandler, Travis & Rosenberg