S.2826 - Fair Trade with China Enforcement Act115th Congress (2017-2018) |
|Sponsor:||Sen. Rubio, Marco [R-FL] (Introduced 05/10/2018)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/10/2018 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.2826 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/10/2018)
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:
- repeal certain reduced withholding rates for residents of China,
- tax income received by China from certain U.S. investments, and
- tax income derived from certain Chinese investments.