S. 4065

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4065 Introduced in Senate (IS)]

<DOC>

119th CONGRESS
2d Session
S. 4065

To require the imposition of sanctions with respect to the People's 
Republic of China if the People's Republic of China threatens the 
security of Taiwan, and for other purposes.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

March 11, 2026

Mr. Sullivan (for himself, Mr. Graham, Ms. Duckworth, Mr. Kennedy, Mr. 
Budd, Mr. Ricketts, Mr. McCormick, and Mr. Cornyn) introduced the 
following bill; which was read twice and referred to the Committee on 
Banking, Housing, and Urban Affairs

_______________________________________________________________________

A BILL

To require the imposition of sanctions with respect to the People's 
Republic of China if the People's Republic of China threatens the 
security of Taiwan, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ``Sanctions 
Targeting Aggressors of Neighboring Democracies with Taiwan Act of 
2026'' or the ``STAND with Taiwan Act of 2026''.
(b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Sec. 3. Sense of Congress.
Sec. 4. Definitions.
TITLE I--SANCTIONS AND OTHER MEASURES IN RESPONSE TO SIGNIFICANT 
THREATS TO SECURITY OF TAIWAN

Sec. 101. Covered determinations.
Sec. 102. Imposition of sanctions with respect to officials of the 
Government of the People's Republic of 
China and members of the Chinese Communist 
Party.
Sec. 103. Imposition of sanctions with respect to financial 
institutions affiliated with the Government 
of the People's Republic of China.
Sec. 104. Imposition of sanctions with respect to entities owned by or 
affiliated with the Government of the 
People's Republic of China or the Chinese 
Communist Party.
Sec. 105. Prohibition on transfers of funds involving the People's 
Republic of China.
Sec. 106. Prohibition on listing or trading of Chinese entities on 
United States securities exchanges.
Sec. 107. Prohibition on investments by United States financial 
institutions that benefit the Government of 
the People's Republic of China or the 
Chinese Communist Party.
Sec. 108. Measures relating to energy sector of the People's Republic 
of China.
Sec. 109. Prohibition on purchases of sovereign debt of the People's 
Republic of China by United States persons.
Sec. 110. Prohibition on provision of services to sanctioned financial 
institutions by international financial 
messaging systems.
Sec. 111. Increases in duties on goods imported from the People's 
Republic of China.
Sec. 112. Increases in duties on goods imported from countries that 
support the People's Republic of China.
TITLE II--GENERAL PROVISIONS

Sec. 201. Sanctions described.
Sec. 202. National security waiver.
Sec. 203. Exceptions.
Sec. 204. Implementation; penalties.
Sec. 205. Termination authority.

SEC. 2. FINDINGS.

Congress makes the following findings:
(1) Taiwan is a free and prosperous democracy of nearly 
23,000,000 people, an important contributor to peace and 
stability around the world, and continues to embody and promote 
democratic values, freedom, and human rights in Asia.
(2) The policy of the United States toward Taiwan is guided 
by the Taiwan Relations Act (22 U.S.C. 3301 et seq.).
(3) Under section 2 of the Taiwan Relations Act (22 U.S.C. 
3301), it is the policy of the United States--
(A) ``to preserve and promote extensive, close, and 
friendly commercial, cultural, and other relations 
between the people of the United States and the people 
on Taiwan, as well as the people on the China mainland 
and all other peoples of the Western Pacific area'';
(B) ``to declare that peace and stability in the 
area are in the political, security, and economic 
interests of the United States, and are matters of 
international concern'';
(C) ``to make clear that the United States decision 
to establish diplomatic relations with the People's 
Republic of China rests upon the expectation that the 
future of Taiwan will be determined by peaceful 
means'';
(D) ``to consider any effort to determine the 
future of Taiwan by other than peaceful means, 
including by boycotts or embargoes, a threat to the 
peace and security of the Western Pacific area and of 
grave concern to the United States'';
(E) ``to provide Taiwan with arms of a defensive 
character''; and
(F) ``to maintain the capacity of the United States 
to resist any resort to force or other forms of 
coercion that would jeopardize the security, or the 
social or economic system, of the people on Taiwan''.
(4) For decades and increasingly since the election of 
President Tsai Ing-wen as President of Taiwan in 2016, the 
Chinese Communist Party has employed a variety of coercive 
military and nonmilitary tactics short of armed conflict in its 
efforts to exert existential pressure on Taiwan, including 
through diplomatic isolation, restricting tourism, 
cyberattacks, spreading disinformation, and controlling the 
ability of Taiwan to purchase COVID-19 vaccines from other 
countries.
(5) According to Taiwan's Ministry of National Defense, the 
People's Republic of China undertook live-fire military 
exercises in the Taiwan Strait April 1 and 2, 2025, vowing to 
maintain combat readiness and prevent any attempts by Taiwan to 
gain independence from the People's Republic of China. The 
exercise reportedly involved Chinese 76 aircraft of the 
People's Liberation Army, 15 naval ships and four official 
ships of the People's Liberation Army Navy, with 37 sorties 
crossing the median line of the Taiwan Strait and entered 
Taiwan's northern, central, southwestern, and eastern air 
defense identification zone.
(6) According to Taiwan's Ministry of National Defense, 29 
Chinese warplanes and drones crossed the median line of the 
Taiwan Strait on February 19 and 20, 2025.
(7) In March 2021, then-Commander of the United States 
Indo-Pacific Command, Admiral Philip Davidson, testified that 
the threat of a military invasion of Taiwan by the People's 
Liberation Army ``is manifest during this decade, in fact in 
the next six years''.
(8) In October 2024, the People's Republic of China 
employed a record 125 aircraft, as well as its Liaoning 
aircraft carrier and ships, in large-scale military exercises 
surrounding Taiwan and its outlying islands, simulating the 
sealing off of key ports. As part of that exercise, 111 Chinese 
aircraft reportedly crossed the median line, entering Taiwan's 
air defense identification zone. That action followed remarks 
by Taiwan's president rejecting Beijing's claim of sovereignty 
over the self-governed island.

SEC. 3. SENSE OF CONGRESS.

It is the sense of Congress that--
(1) it is in the interest of the United States to maintain 
a free and open Indo-Pacific region, with peace and stability 
in the Taiwan Strait as a critical component;
(2) efforts by the Government of the People's Republic of 
China and the Chinese Communist Party to unilaterally determine 
the future of Taiwan through non-peaceful means, including 
threats and the direct use of force, military coercion, 
economic boycotts or embargoes, cyberattacks, and efforts to 
internationally isolate or annex Taiwan--
(A) directly undermine the spirit, intent, and 
purpose of the Taiwan Relations Act (22 U.S.C. 3301 et 
seq.);
(B) undermine peace and stability in the Taiwan 
Strait;
(C) limit a free and open Indo-Pacific region; and
(D) are of grave concern to the Government of the 
United States;
(3) the initiation of a military invasion of Taiwan by the 
People's Liberation Army would--
(A) constitute a threat to the peace and security 
of the Western Pacific area and threaten the peace 
stability of the entire globe; and
(B) undermine the core political, security, and 
economic interests of the United States at home and 
abroad; and
(4) as an important deterrent measure against a military 
invasion of Taiwan, the Government of the People's Republic of 
China and the Chinese Communist Party must understand that 
initiating such an invasion will result in catastrophic 
economic and financial consequences for the People's Republic 
of China.

SEC. 4. DEFINITIONS.

In this Act:
(1) Account; correspondent account; payable-through 
account.--The terms ``account'', ``correspondent account'', and 
``payable-through account'' have the meanings given those terms 
in section 5318A of title 31, United States Code.
(2) Admission; admitted; alien.--The terms ``admission'', 
``admitted'', and ``alien'' have the meanings given those terms 
in section 101 of the Immigration and Nationality Act (8 U.S.C. 
1101).
(3) Appropriate congressional committees.--The term 
``appropriate congressional committees'' means--
(A) the Committee on Foreign Relations, the 
Committee on Armed Services, and the Committee on 
Banking, Housing, and Urban Affairs of the Senate; and
(B) the Committee on Foreign Affairs, the Committee 
on Armed Services, and the Committee on Financial 
Services of the House of Representatives.
(4) Armed forces of the people's republic of china.--The 
term ``Armed Forces of the People's Republic of China'' 
includes, at a minimum--
(A) the People's Liberation Army Aerospace Force;
(B) the People's Liberation Army Cyberspace Force;
(C) the People's Liberation Army Information 
Support Force;
(D) the People's Liberation Army Joint Logistics 
Support Force;
(E) the People's Liberation Army Air Force;
(F) the People's Liberation Army Army;
(G) the People's Liberation Army Navy;
(H) the People's Liberation Army Special Operations 
Forces;
(I) the People's Liberation Army Rocket Force;
(J) the Joint Staff Department of the Central 
Military Commission;
(K) the China Coast Guard;
(L) paramilitary forces, including the Maritime 
Militia;
(M) the People's Armed Police; and
(N) any successor entities or proxies of the 
entities described in subparagraphs (A) through (M).
(5) Covered determination.--The term ``covered 
determination'' has the meaning given that term in section 
101(a).
(6) Critical infrastructure.--
(A) In general.--The term ``critical 
infrastructure'', with respect to Taiwan, means systems 
and assets, whether physical or virtual, so vital to 
Taiwan that the incapacity or destruction of such 
systems and assets would have catastrophic regional or 
national effects on public health or safety, economic 
security, or national security.
(B) Included sectors.--The term ``critical 
infrastructure'' includes assets in the following 
sectors:
(i) Biotechnology.
(ii) Chemical.
(iii) Commercial facilities.
(iv) Communications.
(v) Critical manufacturing.
(vi) Dams.
(vii) Defense industrial base.
(viii) Emergency services.
(ix) Energy.
(x) Financial services.
(xi) Food and agriculture.
(xii) Government facilities.
(xiii) Healthcare and public health.
(xiv) Information technology.
(xv) Materials and waste.
(xvi) Nuclear reactors.
(xvii) Space.
(xviii) Transportation systems.
(xix) Water and wastewater systems.
(7) Financial institution.--The term ``financial 
institution'' means a financial institution specified in 
subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), 
(M), or (Y) of section 5312(a)(2) of title 31, United States 
Code.
(8) Foreign person.--The term ``foreign person'' means an 
individual or entity that is not a United States person.
(9) Knowingly.--The term ``knowingly'' with respect to 
conduct, a circumstance, or a result, means that a person had 
actual knowledge, or should have known, of the conduct, the 
circumstance, or the result.
(10) Sanctioned person.--The term ``sanctioned person'' 
means any person with respect to which sanctions are imposed 
under this Act.
(11) Top decision-making body.--The term ``top decision-
making body'', with respect to the People's Republic of China 
and the Chinese Communist Party, includes--
(A) the Chinese Communist Party Politburo Standing 
Committee;
(B) the Chinese Communist Party Central Military 
Commission;
(C) the Chinese Communist Party Politburo;
(D) the Chinese Communist Party Central Committee;
(E) the Chinese Communist Party National Congress;
(F) the State Council of the People's Republic of 
China;
(G) the State Central Military Commission of the 
People's Republic of China; and
(H) any successor entity or proxy of an entity 
described in any of subparagraphs (A) through (G).
(12) United states person.--The term ``United States 
person'' means--
(A) a United States citizen or an alien lawfully 
admitted for permanent residence to the United States; 
or
(B) an entity organized under the laws of the 
United States or any jurisdiction within the United 
States, including a foreign branch of such an entity.

TITLE I--SANCTIONS AND OTHER MEASURES IN RESPONSE TO SIGNIFICANT 
THREATS TO SECURITY OF TAIWAN

SEC. 101. COVERED DETERMINATIONS.

(a) Covered Determination Defined.--In this Act, the term ``covered 
determination'' means--
(1) a determination by the President under subsection (b) 
that an actor described in paragraph (1) of that subsection has 
engaged, is engaging, or is planning to engage imminently in an 
act described in paragraph (2) of that subsection; or
(2) the enactment of a joint resolution pursuant to 
subsection (c).
(b) Determinations by President.--
(1) In general.--Not later than 15 days after the date of 
the enactment of this Act, and not less frequently than every 
30 days thereafter, the President shall determine if any of the 
following actors has engaged, is engaging, or is planning to 
engage imminently in an act described in paragraph (2):
(A) The Government of the People's Republic of 
China.
(B) The Chinese Communist Party.
(C) Any proxy of the Government of the People's 
Republic of China or the Chinese Communist Party.
(D) Any individual or entity controlled by or 
acting at the direction of the Government of the 
People's Republic of China or the Chinese Communist 
Party.
(E) Any individual who serves on any top decision-
making body of the Government of the People's Republic 
of China.
(F) Any person described in section 102 or 103.
(2) Acts described.--An act described in this paragraph is 
any of the following:
(A) Overthrowing or dismantling the governing 
institutions in Taiwan.
(B) Occupying any territory controlled or 
administered by Taiwan as of the date of the enactment 
of this Act.
(C) Violating the territorial integrity of Taiwan.
(D) Taking any of the following actions:
(i) Creating a naval or aerial blockade of 
Taiwan.
(ii) Seizing the offshore islands of 
Taiwan.
(iii) Initiating a military attack, 
including--
(I) an amphibious landing or 
assault;
(II) an airport operation, air 
assault, or aerial bombardment;
(III) missile attacks; or
(IV) naval bombardment.
(iv) A debilitating attack on the critical 
infrastructure of Taiwan.
(c) Determinations by Joint Resolution.--
(1) Covered joint resolution defined.--In this subsection, 
the term ``covered joint resolution'' means only a joint 
resolution of either House of Congress the sole matter after 
the resolving clause of which is as follows: ``That Congress 
determines that an actor described in paragraph (1) of section 
101(b) of the Sanctions Targeting Aggressors of Neighboring 
Democracies with Taiwan Act of 2026 has engaged, is engaging, 
or is planning to engage in an act described in paragraph (2) 
of that section.''.
(2) Introduction.--A covered joint resolution may be 
introduced--
(A) in the House of Representatives, by the 
majority leader (or the majority leader's designee) or 
the minority leader (or the minority leader's 
designee); and
(B) in the Senate, by the majority leader (or the 
majority leader's designee) or the minority leader (or 
the minority leader's designee).
(3) Floor consideration in house of representatives.--
(A) Discharge from committee.--If a committee of 
the House of Representatives to which a covered joint 
resolution has been referred has not reported the joint 
resolution within 2 calendar days after the date of 
referral of the joint resolution, the committee shall 
be discharged from further consideration of the joint 
resolution and the joint resolution shall be placed on 
the appropriate calendar.
(B) Moving to consideration.--At any time after a 
covered joint resolution has been placed on the 
appropriate calendar, it is in order for the sponsor of 
the joint resolution (or a designee) to move for the 
consideration of that joint resolution.
(C) Points of order; motions.--All points of order 
against the covered joint resolution and its 
consideration are waived. If the motion under 
subparagraph (B) is agreed to, the joint resolution 
shall remain the unfinished business of the House until 
disposed of, except as provided in paragraph (5).
(D) No amendments.--A covered joint resolution 
shall not be subject to amendment in the House of 
Representatives.
(E) Debate.--General debate on a covered joint 
resolution shall not exceed 4 hours, which shall be 
equally divided and controlled by the sponsor of the 
joint resolution (or a designee) and an opponent.
(F) Final passage.--At the conclusion of debate, 
the previous question shall be considered as ordered on 
the resolution, and the House of Representatives shall 
vote on final passage without intervening motion.
(4) Consideration in the senate.--
(A) Reporting and discharge.--If the committee of 
the Senate to which a covered joint resolution was 
referred has not reported the joint resolution within 2 
calendar days after the date of referral of the joint 
resolution, that committee shall be discharged from 
further consideration of the joint resolution and the 
joint resolution shall be placed on the appropriate 
calendar.
(B) Proceeding to consideration.--Notwithstanding 
Rule XXII of the Standing Rules of the Senate, it is in 
order at any time after the committee of the Senate to 
which a covered joint resolution was referred reports 
the joint resolution to the Senate or has been 
discharged from consideration of the joint resolution 
(even though a previous motion to the same effect has 
been disagreed to) to move to proceed to the 
consideration of the joint resolution, and all points 
of order against the joint resolution (and against 
consideration of the joint resolution) are waived. The 
motion to proceed is not debatable. The motion is not 
subject to a motion to postpone.
(C) No amendments.--An amendment to a covered joint 
resolution, or a motion to postpone, or a motion to 
proceed to the consideration of other business, or a 
motion to recommit a covered joint resolution, is not 
in order.
(D) Consideration.--
(i) Limitation on debate.--Consideration in 
the Senate of a covered joint resolution shall 
be limited to not more than 10 hours, which 
shall be equally divided between, and 
controlled by, the majority leader and the 
minority leader, or by their designees.
(ii) Vote on adoption.--Whenever all the 
time for debate on a covered joint resolution 
has been used or yielded back, the vote on the 
adoption of the resolution shall occur without 
any intervening motion or amendment, except 
that a single quorum call at the conclusion of 
the debate if requested in accordance with the 
Rules of the Senate may occur immediately 
before such vote.
(E) Rulings of the chair on procedure.--Appeals 
from the decisions of the Chair relating to the 
application of the rules of the Senate, as the case may 
be, to the procedure relating to a covered joint 
resolution shall be decided without debate.
(F) Consideration of veto messages.--Debate in the 
Senate of any veto message with respect to a covered 
joint resolution, including all debatable motions and 
appeals in connection with the joint resolution, shall 
be limited to 10 hours, to be equally divided between, 
and controlled by, the majority leader and the minority 
leader or their designees.
(5) Rules relating to senate and house of 
representatives.--
(A) Treatment of senate joint resolution in 
house.--In the House of Representatives, the following 
procedures shall apply to a covered joint resolution 
received from the Senate (unless the House has already 
passed a joint resolution relating to the same proposed 
action):
(i) The joint resolution shall be referred 
to the appropriate committees.
(ii) If a committee to which a joint 
resolution has been referred has not reported 
the joint resolution within 2 calendar days 
after the date of referral, that committee 
shall be discharged from further consideration 
of the joint resolution.
(iii) Beginning on the third legislative 
day after the committee to which a joint 
resolution has been referred reports the joint 
resolution to the House or has been discharged 
from further consideration thereof, it shall be 
in order to move to proceed to consider the 
joint resolution in the House. All points of 
order against the motion are waived. Such a 
motion shall not be in order after the House 
has disposed of a motion to proceed on the 
joint resolution. The previous question shall 
be considered as ordered on the motion to its 
adoption without intervening motion. The motion 
shall not be debatable. A motion to reconsider 
the vote by which the motion is disposed of 
shall not be in order.
(iv) The joint resolution shall be 
considered as read. All points of order against 
the joint resolution and against its 
consideration are waived. The previous question 
shall be considered as ordered on the joint 
resolution to final passage without intervening 
motion except 4 hours of debate equally divided 
and controlled by the sponsor of the joint 
resolution (or a designee) and an opponent. A 
motion to reconsider the vote on passage of the 
joint resolution shall not be in order.
(B) Treatment of house joint resolution in 
senate.--
(i) Receipt before passage.--If, before the 
passage by the Senate of a covered joint 
resolution, the Senate receives an identical 
joint resolution from the House of 
Representatives, the following procedures shall 
apply:
(I) That joint resolution shall not 
be referred to a committee.
(II) With respect to that joint 
resolution--
(aa) the procedure in the 
Senate shall be the same as if 
no joint resolution had been 
received from the House of 
Representatives; but
(bb) the vote on passage 
shall be on the joint 
resolution from the House of 
Representatives.
(ii) Receipt after passage.--If, following 
passage of a covered joint resolution in the 
Senate, the Senate receives an identical joint 
resolution from the House of Representatives, 
that joint resolution shall be placed on the 
appropriate Senate calendar.
(iii) No companion measure.--If a covered 
joint resolution is received from the House, 
and no companion joint resolution has been 
introduced in the Senate, the Senate procedures 
under this subsection shall apply to the House 
joint resolution.
(C) Application to revenue measures.--The 
provisions of this paragraph shall not apply in the 
House of Representatives to a covered joint resolution 
that is a revenue measure.
(6) Rules of the house of representatives and senate.--This 
subsection is enacted by Congress--
(A) as an exercise of the rulemaking power of the 
Senate and the House of Representatives, respectively, 
and as such is deemed a part of the rules of each 
House, respectively, and supersedes other rules only to 
the extent that it is inconsistent with such rules; and
(B) with full recognition of the constitutional 
right of either House to change the rules (so far as 
relating to the procedure of that House) at any time, 
in the same manner, and to the same extent as in the 
case of any other rule of that House.

SEC. 102. IMPOSITION OF SANCTIONS WITH RESPECT TO OFFICIALS OF THE 
GOVERNMENT OF THE PEOPLE'S REPUBLIC OF CHINA AND MEMBERS 
OF THE CHINESE COMMUNIST PARTY.

(a) In General.--Not later than 3 days after a covered 
determination is made, the President shall--
(1) impose the sanctions described in section 201 with 
respect to the persons described in subsection (b), to the 
extent such persons can be identified; and
(2) prohibit any United States person (other than an 
official of the United States Government acting in an official 
capacity) from engaging in any transaction with a person 
described in subsection (b).
(b) Persons Described.--The persons described in this subsection 
are the following:
(1) The following officials of the Government of the 
People's Republic of China:
(A) The General Secretary of the Chinese Communist 
Party and all members of the Standing Committee of the 
National People's Congress of the People's Republic of 
China.
(B) The President of the People's Republic of 
China.
(C) The Vice President of the People's Republic of 
China.
(D) Leaders of the State Council of the People's 
Republic of China, including the Premier, Vice 
Premiers, State Councilors, and the Secretary General.
(E) Members of the State Council of the People's 
Republic of China, including all Ministers and heads of 
all constituent agencies.
(F) The Minister of National Defense of the 
People's Republic of China.
(G) Members of the Central Military Commission of 
the Chinese Communist Party.
(H) The commanders of the People's Liberation Army, 
the People's Liberation Army Navy, the People's 
Liberation Army Air Force, and the People's Liberation 
Army Rocket Force.
(I) The Commander of the People's Armed Police 
Force of the Central Military Commission.
(J) The Commander of the People's Liberation Army 
Reserve Force.
(K) The Commander-in-Chief of the People's 
Liberation Army Aerospace Force, Cyberspace Force, 
Information Support Force, and Joint Logistics Force.
(L) The Director of the Office of the Central 
Commission for Foreign Affairs of the Central Committee 
of the Chinese Communist Party.
(M) The Chair of the National Development and 
Reform Commission of the People's Republic of China.
(N) The Minister of Agriculture and Rural Affairs 
of the People's Republic of China.
(O) The Minister of State Security of the People's 
Republic of China.
(P) The Minister of Public Security of the People's 
Republic of China.
(Q) Any foreign person serving as a member of the 
Standing Committee of the National People's Congress of 
the People's Republic of China.
(R) Any foreign person serving as a member of the 
State Central Military Commission of the People's 
Republic of China.
(S) The Chief Justice or Grand Justice of the 
Supreme People's Court of the People's Republic of 
China.
(T) The Prosecutor General of the Supreme People's 
Procuratorate of the People's Republic of China.
(U) Any foreign person serving as a member of the 
State Council or any organ composing the State Council 
of the People's Republic of China.
(V) Any other official of the Government of the 
People's Republic of China that the President 
determines should be subject to sanctions under 
subsection (a).
(2) Any foreign person that--
(A) knowingly sells, supplies, transfers, markets, 
or provides defense articles, equipment, goods, 
services, technology, or materials to the Armed Forces 
of the People's Republic of China;
(B) knowingly conducts a transaction with the Armed 
Forces of the People's Republic of China (other than a 
transaction of an official of a foreign government 
acting in an official capacity);
(C) has engaged in or attempted to engage in 
activities that--
(i) materially undermine the military 
readiness of Taiwan;
(ii) seek to overthrow, dismantle, or 
subvert the governing institutions of Taiwan;
(iii) debilitate the critical 
infrastructure of Taiwan;
(iv) debilitate cybersecurity systems 
through malicious electronic attacks or 
cyberattacks on Taiwan;
(v) undermine the democratic processes of 
Taiwan; or
(vi) involve committing serious human 
rights abuses against citizens of Taiwan, 
including forceful transfers, enforced 
disappearances, unjust detainment, or torture; 
or
(D) is responsible for or complicit in, or has 
directly or indirectly engaged or attempted to engage 
in, for or on behalf of, or for the benefit of, 
directly or indirectly, the Government of the People's 
Republic of China--
(i) transnational corruption, bribery, 
extortion, or money laundering;
(ii) assassination, murder, or other 
unlawful killing of, or infliction of other 
bodily harm against, a United States person or 
a citizen or national of an ally or partner of 
the United States;
(iii) activities that undermine the peace, 
security, political stability, or territorial 
integrity of the United States or an ally or 
partner of the United States; or
(iv) deceptive or structured transactions 
or dealings to circumvent the application of 
any sanctions imposed by the United States, 
including through the use of digital currencies 
or assets or the use of physical assets.
(3) Any agent of any person described in paragraph (1) or 
(2), or any other person, if the sanctioned person transferred 
property or an interest in property to the agent or other 
person--
(A) after the date on which the President imposed 
sanctions with respect to the sanctioned person; or
(B) before that date, if the sanctioned person did 
so in an attempt to evade the imposition of sanctions.

SEC. 103. IMPOSITION OF SANCTIONS WITH RESPECT TO FINANCIAL 
INSTITUTIONS AFFILIATED WITH THE GOVERNMENT OF THE 
PEOPLE'S REPUBLIC OF CHINA.

(a) In General.--Not later than 3 days after a covered 
determination is made, the Secretary of the Treasury shall--
(1) impose the sanctions described in subsection (b) with 
respect to--
(A) the People's Bank of China;
(B) any state-owned bank;
(C) any other financial institution organized under 
the laws of the People's Republic of China and owned in 
whole or part by the Government of the People's 
Republic of China;
(D) any subsidiary of, or successor entity to, any 
of the financial institutions described in 
subparagraphs (A) through (F); and
(E) any financial institution that engages in 
transactions with any of the financial institutions 
described in subparagraphs (A) through (G);
(2) impose the sanctions described in section 201 with 
respect to any directors of, officers of, officials of, and 
shareholders with an interest in, a financial institution 
described in paragraph (1); and
(3) prohibit any United States person from engaging in any 
transaction with a financial institution described in paragraph 
(1).
(b) Sanctions Described.--The sanctions described in this 
subsection are the following:
(1) Blocking of property.--
(A) In general.--The President shall exercise all 
of the powers granted to the President under the 
International Emergency Economic Powers Act (50 U.S.C. 
1701 et seq.) to the extent necessary to block and 
prohibit all transactions in property and interests in 
property of a financial institution subject to 
subsection (a)(1) if such property and interests in 
property are in the United States, come within the 
United States, or are or come within the possession or 
control of a United States person.
(B) Inapplicability of national emergency 
requirement.--The requirements of section 202 of the 
International Emergency Economic Powers Act (50 U.S.C. 
1701) shall not apply for purposes of this section.
(2) Restrictions on correspondent and payable-through 
accounts.--The President shall prohibit the opening, and 
prohibit or impose strict conditions on the maintaining, in the 
United States of a correspondent account or payable-through 
account by a financial institution subject to subsection 
(a)(1).
(c) State-Owned Bank Defined.--In this section, the term ``state-
owned bank''--
(1) means a bank that--
(A) is incorporated in the People's Republic of 
China; or
(B) is owned in whole or part by the Government of 
the People's Republic of China; and
(2) includes--
(A) the Export-Import Bank of China;
(B) the China Development Bank;
(C) the Agricultural Development Bank of China;
(D) the Industrial and Commercial Bank of China;
(E) the China Construction Bank;
(F) the Bank of Communications;
(G) the Agricultural Bank of China; and
(H) the Bank of China.

SEC. 104. IMPOSITION OF SANCTIONS WITH RESPECT TO ENTITIES OWNED BY OR 
AFFILIATED WITH THE GOVERNMENT OF THE PEOPLE'S REPUBLIC 
OF CHINA OR THE CHINESE COMMUNIST PARTY.

Not later than 3 days after a covered determination is made, the 
Secretary of the Treasury shall impose the sanctions described in 
section 201(1) with respect to any entity engaged in commercial 
activities on behalf of the Government of the People's Republic of 
China or the Chinese Communist Party, in which the government or party 
has an ownership stake and exercises ultimate control over business 
decisions.

SEC. 105. PROHIBITION ON TRANSFERS OF FUNDS INVOLVING THE PEOPLE'S 
REPUBLIC OF CHINA.

(a) In General.--Except as provided by subsection (b), not later 
than 3 days after a covered determination is made, a depository 
institution (as defined in section 19(b)(1)(A) of the Federal Reserve 
Act (12 U.S.C. 461(b)(1)(A))) or a broker or dealer in securities 
registered with the Securities and Exchange Commission under the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) may not process 
transfers of funds--
(1) to or from the People's Republic of China; or
(2) for the direct or indirect benefit of officials of the 
Government of the People's Republic of China or members of the 
Chinese Communist Party.
(b) Exception.--A depository institution, broker, or dealer 
described in subsection (a) may process a transfer described in that 
subsection if the transfer--
(1) arises from, and is ordinarily incident and necessary 
to give effect to, an underlying transaction that is authorized 
by a specific or general license; and
(2) does not involve debiting or crediting a Chinese 
account.

SEC. 106. PROHIBITION ON LISTING OR TRADING OF CHINESE ENTITIES ON 
UNITED STATES SECURITIES EXCHANGES.

(a) In General.--The Securities and Exchange Commission shall 
prohibit the securities of an issuer described in subsection (b) from 
being traded on a national securities exchange on and after the date 
that is 3 days after a covered determination is made.
(b) Issuers.--An issuer described in this subsection is an issuer 
that is a security listed with the China Securities Regulatory 
Commission.
(c) Definitions.--In this section:
(1) Issuer; security.--The terms ``issuer'' and 
``security'' have the meanings given those terms in section 
3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c).
(2) National securities exchange.--The term ``national 
securities exchange'' means an exchange registered as a 
national securities exchange in accordance with section 6 of 
the Securities Exchange Act of 1934 (15 U.S.C. 78f).

SEC. 107. PROHIBITION ON INVESTMENTS BY UNITED STATES FINANCIAL 
INSTITUTIONS THAT BENEFIT THE GOVERNMENT OF THE PEOPLE'S 
REPUBLIC OF CHINA OR THE CHINESE COMMUNIST PARTY.

(a) In General.--Not later than 3 days after a covered 
determination is made, the Secretary of the Treasury shall prohibit any 
United States financial institution from making any investments 
described in subsection (b).
(b) Investments Described.--An investment described in this 
subsection is a monetary investment--
(1) to--
(A) an entity owned or controlled by the Government 
of the People's Republic of China or the Chinese 
Communist Party; or
(B) the People's Liberation Army; or
(2) for the benefit of any priority industrial sector 
identified in the ``Made in China 2025'' plan or the ``14th 
Five Year Smart Manufacturing Development Plan'', including--
(A) agriculture machinery;
(B) information technology;
(C) artificial intelligence, machine learning, and 
robotics;
(D) green energy and green vehicles;
(E) aerospace equipment;
(F) ocean engineering and high tech ships;
(G) railway equipment;
(H) power equipment;
(I) new materials;
(J) medicine and medical devices;
(K) fifth generation and future generation 
telecommunications and other advanced wireless 
networking technologies;
(L) semiconductor manufacturing;
(M) biotechnology;
(N) quantum computing;
(O) surveillance technologies, including facial 
recognition technologies and censorship software;
(P) fiber optic cables; and
(Q) mining and resource development.
(c) United States Financial Institution Defined.--In this section, 
the term ``United States financial institution''--
(1) means any financial institution that is a United States 
person; and
(2) includes an investment company, private equity company, 
venture capital company, or hedge fund that is a United States 
person.

SEC. 108. MEASURES RELATING TO ENERGY SECTOR OF THE PEOPLE'S REPUBLIC 
OF CHINA.

(a) Prohibition on Exports.--On and after the date that is 3 days 
after a covered determination is made, the Secretary of Commerce shall 
prohibit, under the Export Control Reform Act of 2018 (50 U.S.C. 4801 
et seq.), the export, reexport, or in-country transfer to or in the 
People's Republic of China any energy or energy product produced in the 
United States.
(b) Prohibition on Investments.--On and after the date that is 3 
days after a covered determination is made, a United States person may 
not make an investment in the energy sector of the People's Republic of 
China.
(c) Imposition of Sanctions.--The President shall--
(1) impose the sanctions described in section 201 with 
respect to any foreign person that the President determines 
knowingly sells, supplies, transfers, markets, or provides 
goods, services, technology, information, or other support that 
facilitates the maintenance or expansion of the production of 
oil, uranium, natural gas, petroleum, petroleum products, or 
petrochemical products for use by any person subject to 
sanctions under section 102, 103, or 104; and
(2) prohibit any United States person from engaging in any 
transaction with a person described in paragraph (1).
(d) Definitions.--In this section, the terms ``export'', ``in-
country transfer'', ``reexport'', and ``United States person'' have the 
meanings given those terms in section 1742 of the Export Control Reform 
Act of 2018 (50 U.S.C. 4801).

SEC. 109. PROHIBITION ON PURCHASES OF SOVEREIGN DEBT OF THE PEOPLE'S 
REPUBLIC OF CHINA BY UNITED STATES PERSONS.

On and after the date that is 3 days after a covered determination 
is made, the purchase of sovereign debt of the Government of the 
People's Republic of China by any United States person is prohibited.

SEC. 110. PROHIBITION ON PROVISION OF SERVICES TO SANCTIONED FINANCIAL 
INSTITUTIONS BY INTERNATIONAL FINANCIAL MESSAGING 
SYSTEMS.

Not later than 3 days after a covered determination is made, the 
President shall impose sanctions pursuant to the International 
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) with respect 
to--
(1) any global financial communications services provider 
that does not terminate the provision of financial 
communications services to, and the enabling and facilitation 
of access to such services for, any financial institution 
subject to sanctions under section 103 or any other provision 
of this Act; and
(2) the directors of, officers of, and shareholders with a 
interest in, the provider.

SEC. 111. INCREASES IN DUTIES ON GOODS IMPORTED FROM THE PEOPLE'S 
REPUBLIC OF CHINA.

(a) In General.--Not later than 15 days after a covered 
determination is made, the President shall, notwithstanding any other 
provision of law, increase the rate of duty for all goods imported into 
the United States from the People's Republic of China to a rate of up 
to 500 percent ad valorem.
(b) Duty Rate in Addition to Antidumping and Countervailing 
Duties.--The rate of duty required under subsection (a) with respect to 
a good described in that subsection shall be in addition to any 
antidumping or countervailing duty applicable with respect to the good 
under title VII of the Tariff Act of 1930 (19 U.S.C. 1671 et seq.).

SEC. 112. INCREASES IN DUTIES ON GOODS IMPORTED FROM COUNTRIES THAT 
SUPPORT THE PEOPLE'S REPUBLIC OF CHINA.

(a) In General.--Not later than 15 days after a covered 
determination is made, and every 90 days thereafter, the President 
shall, notwithstanding any other provision of law, increase the rate of 
duty for all goods imported into the United States from a country 
described in subsection (b) to a rate of up to 500 percent ad valorem.
(b) Countries Described.--A country is described in this subsection 
if the country--
(1) knowingly sells, supplies, transfers, or purchases oil, 
uranium, natural gas, petroleum products, or petrochemical 
products to or from the People's Republic of China; or
(2) knowingly sells, supplies, transfers, or purchases 
products, material, or financial support to or from the 
People's Republic of China for its military-industrial capacity 
or for any act described in section 101(b)(2).
(c) Duty Rate in Addition to Antidumping and Countervailing 
Duties.--The rate of duty required under subsection (a) with respect to 
a good described in that subsection shall be in addition to any 
antidumping or countervailing duty applicable with respect to the good 
under title VII of the Tariff Act of 1930 (19 U.S.C. 1671 et seq.).
(d) Prohibition on Waivers for Certain Countries.--The President 
may not waive under section 202 the application of subsection (a) with 
respect to--
(1) a country the government of which the Secretary of 
State has determined has repeatedly provided support for acts 
of international terrorism (commonly referred to as a ``state 
sponsor of terrorism''), for purposes of--
(A) section 1754(c)(1)(A)(i) of the Export Control 
Reform Act of 2018 (50 U.S.C. 4813(c)(1)(A)(i));
(B) section 620A of the Foreign Assistance Act of 
1961 (22 U.S.C. 2371);
(C) section 40(d) of the Arms Export Control Act 
(22 U.S.C. 2780(d)); or
(D) any other provision of law; or
(2) a country specified in section 4872(f)(2) of title 10, 
United States Code.
(e) Military-Industrial Capacity Defined.--In this section, the 
term ``military-industrial capacity'' means the capacity of a country 
to produce and supply the equipment, technology, weapons, training and 
deployment of personnel, manpower, and systems necessary for military 
operations.

TITLE II--GENERAL PROVISIONS

SEC. 201. SANCTIONS DESCRIBED.

The sanctions described in this section are the following:
(1) Blocking of property.--
(A) In general.--The President shall exercise all 
of the powers granted by the International Emergency 
Economic Powers Act (50 U.S.C. 1701 et seq.) to block 
and prohibit all transactions in all property and 
interests in property of the sanctioned person if such 
property and interests in property are in the United 
States, come within the United States, or are or come 
within the possession or control of a United States 
person.
(B) Inapplicability of national emergency 
requirement.--The requirements of section 202 of the 
International Emergency Economic Powers Act (50 U.S.C. 
1701) shall not apply for purposes of this section.
(2) Ineligibility for visas, admission, or parole.--
(A) Visas, admission, or parole.--In the case of a 
sanctioned person who is an alien, the alien shall be--
(i) inadmissible to the United States;
(ii) ineligible to receive a visa or other 
documentation to enter the United States; and
(iii) otherwise ineligible to be admitted 
or paroled into the United States or to receive 
any other benefit under the Immigration and 
Nationality Act (8 U.S.C. 1101 et seq.).
(B) Current visas revoked.--
(i) In general.--The visa or other entry 
documentation of an alien described in 
subparagraph (A) shall be revoked, regardless 
of when such visa or other entry documentation 
is or was issued.
(ii) Immediate effect.--A revocation under 
clause (i) shall--
(I) take effect immediately; and
(II) automatically cancel any other 
valid visa or entry documentation that 
is in the alien's possession.

SEC. 202. NATIONAL SECURITY WAIVER.

Except as provided by section 112(d), the President may waive, for 
successive periods of not more than 90 days each, the application of 
sanctions, prohibitions, restrictions, duties, and penalties under this 
Act with respect to a person if, for each such period, the President--
(1) determines that such a waiver--
(A) is in the national security interests of the 
United States; and
(B) supports the enduring security of Taiwan and a 
return to the disposition of forces that prevailed 
before the act that led to the applicable covered 
determination; and
(2) submits to the appropriate congressional committees a 
notification of the waiver and the reasons for the waiver.

SEC. 203. EXCEPTIONS.

(a) Support for People of the People's Republic of China.--This Act 
shall not apply with respect to efforts to promote democracy in the 
People's Republic of China.
(b) Exception for Intelligence Activities.--This Act shall not 
apply with respect to activities subject to the reporting requirements 
under title V of the National Security Act of 1947 (50 U.S.C. 3091 et 
seq.) or any authorized intelligence activities of the United States.
(c) Exception To Comply With International Obligations.--Sanctions 
under this Act shall not apply to the admission of an alien if the 
admission of that alien is necessary to comply with United States 
obligations under the Agreement between the United Nations and the 
United States regarding the Headquarters of the United Nations, signed 
at Lake Success June 26, 1947, and entered into force November 21, 
1947, under the Convention on Consular Relations, done at Vienna April 
24, 1963, and entered into force March 19, 1967, or under other 
international agreements.
(d) Exception Relating to Importation of Goods.--
(1) In general.--The authorities and requirements to impose 
sanctions authorized under this Act shall not include the 
authority or requirement to impose sanctions on the importation 
of goods.
(2) Good defined.--In this subsection, the term ``good'' 
means any article, natural or manmade substance, material, 
supply or manufactured product, including inspection and test 
equipment, and excluding technical data.

SEC. 204. IMPLEMENTATION; PENALTIES.

(a) Implementation.--The President may exercise all authorities 
provided under sections 203 and 205 of the International Emergency 
Economic Powers Act (50 U.S.C. 1702 and 1704) to carry out this Act 
(other than sections 111 and 112).
(b) Penalties.--A person that violates, attempts to violate, 
conspires to violate, or causes a violation of any provision of this 
Act (other than section 111 or 112) or any regulation, license, or 
order issued to carry out any such provision shall be subject to the 
penalties set forth in subsections (b) and (c) of section 206 of the 
International Emergency Economic Powers Act (50 U.S.C. 1705) to the 
same extent as a person that commits an unlawful act described in 
subsection (a) of that section.

SEC. 205. TERMINATION AUTHORITY.

(a) In General.--The President may terminate the application of 
sanctions, prohibitions, restrictions, duties, and penalties under this 
Act if the President submits to Congress a certification that--
(1) all actors described in paragraph (1) of section 101(b) 
have verifiably ceased engaging in acts described in paragraph 
(2) of that section; and
(2) the Government of the People's Republic of China and 
the Chinese Communist Party have renounced engaging in any such 
acts in the future.
(b) Reimposition.--If, after the submission of a certification 
described in subsection (a), an actor described in paragraph (1) of 
section 101(b) engages in an act described in paragraph (2) of that 
section, the President shall immediately reimpose all previously 
terminated sanctions, prohibitions, restrictions, duties, and penalties 
imposed under this Act, in addition to new sanctions, prohibitions, 
restrictions, duties, and penalties under this Act.
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