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Fair Trade with China Enforcement Act

Introduced: March 25, 2021 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 25, 2021
Read twice and referred to the Committee on Finance.
Mar 25, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

Fair Trade with China Enforcement Act

This bill revises trade, finance, and tax provisions with respect to China.

Specifically, the bill directs the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China, and it places a shareholder cap on Chinese investments in certain U.S. corporations.

The bill prohibits federal agencies 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.

Further, 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 expedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on this list.

The bill amends the Internal Revenue Code to (1) repeal certain reduced withholding rates for residents of China, and (2) provide for the taxation of income received by China on certain U.S. investments.

What's happening now March 25, 2021

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1