Compensation for Americans Act: Claims Against China for COVID-19
This act aims to seek compensation from China for losses caused by the COVID-19 pandemic, including loss of life, health, and property of U.S. citizens, as well as damage to the economy. It establishes a compensation fund, authorizes freezing Chinese assets, and introduces various measures to protect American interests.
Key points
Establishment of a Coronavirus Compensation Fund to receive funds from negotiations with China or frozen assets.
U.S. authorities will pursue negotiations with China for compensation regarding the concealment of information about the virus and its spread.
The U.S. President can freeze Chinese assets in the U.S. to enforce a compensation agreement.
Prohibition on U.S. government procurement of products from China that pose a national security risk, including pharmaceuticals and medical equipment.
Encouraging the relocation of American businesses and manufacturing from China back to the U.S.
Imposition of sanctions on Chinese officials and companies responsible for concealing virus information, intellectual property theft, or censorship.
Prohibition on investment of U.S. federal employee retirement funds in Chinese companies.
Implementation of a visa ban for researchers affiliated with the Chinese People's Liberation Army.
Reclassification of China from a developing to a developed country in international organizations, potentially affecting their trade obligations.
Allowing U.S. citizens to take active cyber defense measures to identify and defend against Chinese cyberattacks, with FBI notification requirements.
Expired
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