A bill to safeguard certain technology and intellectual property in the United States from export to or influence by the People's Republic of China and to protect United States industry from unfair competition by the People's Republic of China, and for other purposes.
Fair Trade with China Enforcement Act
This bill revises trade, finance, and tax provisions with respect to China.
The bill directs the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China.
The bill amends the Securities Exchange Act of 1934 to place a shareholder cap on Chinese investments in certain U.S. corporations.
Federal agencies are prohibited from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China.
The bill amends the Trade Act of 1974 to require the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill amends the Tariff Act of 1930 to expedite the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on such a list.
The bill amends the Internal Revenue Code to: (1) repeal certain reduced withholding rates for residents of China, and (2) tax income received by China from certain U.S. investments.
Referred to the House Committee on Oversight and Government Reform.
Referred to the Subcommittee on Trade.
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2625-2627)
Introduced in Senate
Read twice and referred to the Committee on Finance.
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