President Trump has issued an Executive Order that will start to remove Hong Kong’s special trade status after China implemented new national security rules. That’s just the latest stage in the deterioration of relations between the two countries. The EO could result in section 301 tariffs – the core instrument used by the U.S. as part of the trade war with China – being applied to as much as $1.58 billion of Hong Kong exports. There’s little sign of stockpiling so far with imports of the products likely to be covered having fallen by 54.6% year over year...