Round 10

25 November 2020 By Gina Chon Follow @GinaChon

The U.S. president’s mainland-bashing will go on until he steps down. He could impose sanctions on financial firms linked to a Hong Kong blacklist, expand a ban on investment or even restart a trade war. His successor would be left with little room to leave his own mark.

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The U.S. Treasury Department has until Dec. 13 to submit a report naming foreign financial institutions that knowingly conduct significant transactions with sanctioned individuals deemed responsible for undermining Hong Kong’s autonomy.

Within one year of being included in such a report, the U.S. president must impose at least some sanctions on those financial institutions, according to the Hong Kong Autonomy Act. Options include restricting loans, foreign exchange and banking transactions with U.S. institutions. A president could also impose similar penalties through an executive order.

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