Stranger things have happened.
Everyone was expecting US President Donald Trump to go nuclear by de facto sanctioning China to death over Hong Kong. In an environment where Twitter and the President of the United States are now engaged in open warfare, the rule is that there are no rules anymore.
So in the end, what was announced against China amounted to an anti-climax.
The US government, as it stands, is terminating its relationship with the World Health Organization (WHO). The geopolitical repercussions are immense and that will take time to sink in. In the short term, something must be blamed for the US' appalling Covid-19 record, so it might as well be a UN institution.