This essay describes the ethical and legal issues that will arise from emerging quantum technologies. Quantum technologies and applications are currently in different levels of maturity, and the full range of potential applications will remain beyond the grasp of our current imagination. Nevertheless, the government and private industry are investing heavily in the first generation of quantum applications, so a preliminary assessment of the potential societal and ethical considerations will be valuable to private industry, the government, and to the general public. This essay provides concrete examples of the first wave of quantum technology applications and describes the possible societal repercussions. In some cases, societal goals will be in tension with one another, requiring difficult trade-offs. The best policies and ethical norms will need to be sensitive to the deployment context and use cases. This Quantum Policy and Ethics Roadmap injects a dose of realism to the discourse on quantum ethics by identifying trade-offs and acknowledging that the process of balancing risks and benefits is likely to be complex and contested. This contribution serves as input for transatlantic policy and interoperability deliberations on developing shared principles and a common framework for quantum technologies.