This says more about Trump's unstable genius than it does about Hong Kong.
as referenced in the bloomberg article
The U.S. Consulate in Hong Kong declined to comment when asked whether Trump was considering any action against the city. It pointed to a statement last month from Consul General Kurt Tong, who said “we are quite focused on the importance of the ‘one country, two systems’ framework” that allows Hong Kong to maintain a distinct economic, legal and political system.
from the article below
or example, in November 2017, Chair of the Basic Law Committee Li Fei said that the Central Government “jointly administers” Hong Kong, and that the Central Government will decide policy for Hong Kong in “some important matters” while “more local matters are dealt with by local authorities,” thereby blurring distinctions made clear in the Basic Law.