I think the original thinking was August, but considering the meeting in Hawaii went so poorly, I suspect it could be accelerated to June.

In terms of US retaliation, the president remarked on a few actions that, in the grand scheme of things, are not terribly onerous.

(1) Suspend entry of certain foreign nationals from china (students from nat’l defense related universities) (2) De-listing of non-compliant Chinese companies in US (likely waiting for legislation to pass, any delisting unlikely to happen for three years) Eliminating policy exemptions for HK’s special treatment: - End extradition treaty - Adjust export controls jurisdiction to match Mainland (this is moving more quickly than the others, we understand) - Issue State dept travel advisory for HK to elevated risk levels - Take action to adjust HK’s treatment as travel territory separate from Mainland - Sanction individuals directly and indirectly involved with eroding hk freedoms - Take action to revoke Hong Kong's preferential treatment as a separate customs territory, e.g. potentially equivalent tariff levels as Mainland (this is the big one, but we understand that the administration is only in the early stages of evaluating this option and unwinding the special status is more complicated than the stroke of a pen. Go figure).