Cloud environments should provide network performance isolation for co-located untrusted tenants in a virtualized datacenter. We present key properties that a performance isolation solution should satisfy, and present our progress on Gatekeeper, a system designed to meet these requirements. Experiments on our Xen- based implementation of Gatekeeper in a datacenter cluster demonstrate effective and flexible control of ingress/egress link bandwidth for tenant virtual machines under both TCP and greedy unresponsive UDP traffic.