U.S. issues a new executive order on Hong Kong normalization

On 14th July 2020, U.S. President Trump signed Executive Order 13936 announcing the Special Administrative Region of Hong Kong (Hong Kong) is “no longer sufficiently autonomous to justify differential treatment” in relation to the People's Republic of China. As a result, the new policy of the U.S. is to “suspend or eliminate different and preferential treatment” for Hong Kong. In accordance with Executive Order 13936, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a guidance page on Hong Kong related sanctions.