H.R.6974 - Taiwan Non-Discrimination Act of 2020116th Congress (2019-2020)
|Sponsor:||Rep. Gonzalez, Anthony [R-OH-16] (Introduced 05/22/2020)|
|Committees:||House - Financial Services|
|Latest Action:||House - 05/22/2020 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6974 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (05/22/2020)
Taiwan Non-Discrimination Act of 2020
This bill requires actions to improve Taiwan's standing in international financial institutions such as the International Monetary Fund (IMF).
The U.S. Governor of the IMF shall oppose any increase in China's IMF quota unless certain conditions are met. (A country's quota generally reflects its economic strength and affects factors such as that country's voting power within the IMF.)
Specifically, the governor shall oppose such a quota increase unless the Department of the Treasury reports to Congress that (1) the IMF is considering admitting Taiwan as a member, (2) Taiwan enjoys meaningful participation in the IMF, or (3) not opposing a quota increase will substantially support the objective of securing Taiwan's more equitable treatment in international financial institutions. (Taiwan is not a member of the IMF due to China's opposition, based on its position that Taiwan is part of China and not a separate country.)
Treasury shall instruct U.S. representatives at international financial institutions to oppose travel policies that impose conditions on Taiwan as a destination or transit point, if such conditions do not generally apply to a member of the institution as a destination or transit point. Treasury may waive this instruction if such a waiver (1) substantially supports the goal of improving Taiwan's position within that institution, or (2) is in U.S. national interest.