President Trump has signed into law an executive order that will impose sanctions on Chinese Communist Party (CCP) officials involved in the suppression of Hong Kong people. He has also signed legislation that will put an end to preferential U.S. treatment for Hong Kong, as tensions between the United states and the CCP escalated.

The new law comes one day after the United States rejected almost all of the CCP’s claims in the contested South China Sea.

Hong Kong goods will now be subjected to the same tariffs as those imposed by the United States on Chinese imports, and this will deal a significant blow to Chinese Communist Party, cutting off a major financial loophole.

“I signed legislation and an executive order to hold China [the CCP] accountable for its oppressive actions against the people of Hong Kong,” President Trump said. “No administration has been tougher on China [the CCP] than this administration.”

“This law gives my administration powerful new tools to hold responsible the individuals and the entities involved in extinguishing Hong Kong’s freedom,” said the president.

The Hong Kong Autonomy Act is a bipartisan bill that will place sanctions on the CCP officials who are involved in a crackdown that affects Hong Kong residents’ rights, refusing their right to free speech and peaceful protests. Any banks that do business with such officials will also have sanctions applied.

The president addressed reporters in the White House Rose Garden on Tuesday, July 14, and his signature comes after enormous support from both the Senate and the House.

“This law gives my administration powerful new tools to hold responsible the individuals and the entities involved in extinguishing Hong Kong’s freedom,” President Trump said. “Their freedom has been taken away. Their rights have been taken away, and with it goes Hong Kong, in my opinion, because it will no longer be able to compete with free markets. A lot of people will be leaving Hong Kong, I suspect.”

The act responds to the “national security” law the CCP implemented to gain further control over Hong Kong. This area has been semi-autonomous from mainland China since 1997.

Under the new CCP law, any activity deemed subversive, secessionist, or terrorist-related is prohibited. Any foreign intervention in Hong Kong will be seen as a direct response to calls for democracy from protesters. Police now have the right under the CCP direction to carry out searches without warrants. Any messages on social media considered in violation of the new law are to be removed by order.

In recent weeks relations between the U.S. and Chinese Communist Party have deteriorated, over the CCP Virus pandemic, human rights, and Beijing’s policy toward Hong Kong and trade reports Fox News.

On Monday, U.S. Sens. Marco Rubio (R-Fla.) and Ted Cruz (R-Texas), Rep. Chris Smith (R-N.J.), and Ambassador for Religious Freedom Sam Brownback were targeted by the CCP, as was the Congressional-Executive Commission on China. The four have criticized the CCP policies toward minority groups and people of faith, and the CCP intends to impose sanctions on them.