The Trump Administration allowed the national emergency declaration associated with Executive Order 13936 to expire with regard to Hong Kong, as part of a broader review and streamlining of sanctions authorities. This is a technical not substantive move that resulted in removal of sanctions that existed only because of the national emergency declaration and delisting of some individuals from that specific sanctions program.

However, many of those same individuals were immediately redesignated under the Hong Kong Autonomy Act of July 142020 which is a federal law with much stronger legal authorities than an Executive Order. For example, John Lee and Carrie Lam remain sanctioned, albeit under a different legal basis.
 
The following fundamentals of U.S. policies and sanctions against Hong Kong remain intact:

• Only the overlapping emergency-based sanctions expired. The fundamental policy ending Hong Kong's special treatment has not been reversed.

• Executive Order 13936 remains operative where its authorities do not depend on the expired national emergency.

• Hong Kong's separate trade status has not been restored.

• Hong Kong continues to be treated like mainland China for export controls and most trade purposes.

• Hong Kong is not recognized as sufficiently autonomous.

• No restoration of special customs treatment.

• Export controls remain aligned with mainland China.

• Technology restrictions remain.

• Arms embargo remains.

• Most sanctions under the Hong Kong Autonomy Act remain.

• Country-of-origin requirements ("Made in China" not “Made in Hong Kong) remain.

• Hong Kong continues to be included with China in various tariff and trade measures.