On Friday, May 29th, President Trump announced that the US will begin the process of revoking Hong Kong’s preferential treatment as a separate customs and travel territory in response to the new security law passed by mainland China earlier this week.

Although Trump has yet to provide additional details, he did reveal that the impending changes “will affect the full range of agreements that we have with Hong Kong, from our extradition treaty, to our export controls and technologies.”

Shapiro will continue to monitor the situation and provide status updates as they become available.