I was afraid this might happened given earlier news reports, which is why I purchased my Ultra 2 a few weeks ago! 
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I think there is a pretty high likelihood that this gets resolved prior to 2024. But I’ll be bummed if I’m wrong as I don’t need an Apple watch just yet but was planning on getting one next year.
Without President Biden’s veto an import ban, on the Apple watches in question, was going into effect next week. This might take some time to resolve.
How much of an import ban would this actually be? As in, would people’s Apple Watches start being confiscated at customs, Kinder Egg-style?
AFAIK it means the banned items could not be imported for sale in the US.
Looks like the decision is on hold for now so sales will continue