What is the official ID of this bill?
The official print number for this legislation is S 1060.
Fair Trade with China Act: Protecting US Technology and Industry
This act aims to protect American technology and intellectual property from Chinese influence and safeguard US industry from unfair competition. It introduces new rules for exports, investments, and telecommunications, which may affect the availability of certain products and services and import costs. Citizens might experience changes in product prices, technology availability, and data security.
Key points
Restrictions on exporting sensitive technology and intellectual property to China, aiming to protect US innovation and jobs.
Establishment of a list of Chinese products receiving government support, potentially leading to higher tariffs on these goods and higher prices for consumers.
Limitations on Chinese investments in US companies producing key components, intended to secure strategic economic sectors.
Prohibition on US government agencies using Chinese telecommunications equipment and services, enhancing national security but potentially impacting service providers.
Repeal of reduced tax rates for Chinese residents and taxation of US obligations held by the Chinese government, which may affect economic relations and financial stability.
Status:
Expired
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