H.R.704 - Fair Trade with China Enforcement Act116th Congress (2019-2020) |
|Sponsor:||Rep. Conaway, K. Michael [R-TX-11] (Introduced 01/22/2019)|
|Committees:||House - Ways and Means; Financial Services; Judiciary; Foreign Affairs; Oversight and Reform|
|Latest Action:||House - 03/04/2019 Referred to the Subcommittee on Courts, Intellectual Property, and the Internet. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.704 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (01/22/2019)
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 places 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 requires the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill aexpedites 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.
The bill also allows U.S. courts to hear cases against certain entities or corporate affiliates of a foreign state.