ExecutiveOrdersEO
Notice 13936NoticeTrump 47 · R Quiet signal

Presidential Notice 13936

Continuation of the National Emergency With Respect to Hong Kong

The President continues for one year the national emergency declared in Executive Order 13936 regarding Hong Kong, citing ongoing threats to U.S. national security, foreign policy, and economy from actions by the People's Republic of China that undermine Hong Kong's autonomy. The continuation extends the emergency authority beyond its July 14, 2025 expiration date.

Federal Register Open PDF 90 FR 31129

Impact dates

  1. 37d ago

    Continued national emergency expires unless further extended

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Banking & financeTechnology & softwareShipping & logistics

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • MixedDomestic producer — Some U.S. firms gain competitive advantage from restricted Hong Kong access; others lose market opportunities
  • AdverseImporter — Continued restrictions on Hong Kong-origin goods and services treated as China-origin for trade purposes
  • AdverseTrading-partner exporter — Hong Kong-based entities face continued IEEPA-based restrictions, license requirements, and sanctions exposure

Geographies

USCN

Exposure dates

  • — Continued national emergency expires unless further extended

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

GOOGLAlphabetAAPLAppleBACBank of AmericaBLKBlackRockLNGCheniere EnergyDACDanaosGSGoldman SachsHSBCHSBCQQQInvesco QQQ TrustJPMJPMorgan ChaseMATXMatsonMETAMeta PlatformsMSFTMicrosoftORCLOracleSPYSPDR S&P 500 ETFZTOZTO Express

Confidence: high · Policy alerts

Key directives

  • Continue national emergency declared in Executive Order 13936 for 1 year beyond July 14, 2025

Timeline

Immediate

  • National emergency authority continues without lapse
  • Existing sanctions and restrictions under EO 13936 remain in force

Near term (90d)

  • Potential Treasury/State Department updates to sanctions designations
  • Financial institutions must maintain compliance protocols

Long term

  • Continued structural divergence of U.S.-Hong Kong economic relationship
  • Potential expansion of emergency authorities if situation deteriorates

Risks & tensions

  • Perpetuation of emergency powers normalizes long-term economic statecraft tools
  • Uncertainty about whether future administrations will maintain or escalate Hong Kong policy
  • Potential friction with China on bilateral trade negotiations
Presidential Notice 13936: Continuation of the National Emergency With Respect to Hong Kong · Executive Orders