arrow_back Back to App

New Sanctions to Combat Economic Espionage and Support for Foreign Adversaries.

This law aims to protect American trade secrets and technology by imposing sanctions on foreign entities that engage in economic espionage or knowingly provide material support to the military and intelligence sectors of adversarial nations. These measures are intended to enhance national security and safeguard the innovations of US companies. Sanctions include asset blocking and visa bans for violating individuals and firms.
Key points
Protecting US Businesses: The President can impose sanctions on foreign entities that steal trade secrets or violate US export control laws.
Asset and Visa Bans: Sanctions include freezing assets located in the US and immediately revoking visas for individuals involved in espionage or supporting hostile militaries.
Focus on Critical Components: The law specifically targets the flow of critical components (like semiconductors) to adversaries' military sectors, citing concerns over foreign support for Russia.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_8361
Sponsor: Rep. McCormick, Richard [R-GA-6]
Process start date: 2024-05-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Economic Espionage Prevention Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8361.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-10.

What are the main provisions?

Key points include:

  • Protecting US Businesses: The President can impose sanctions on foreign entities that steal trade secrets or violate US export control laws.
  • Asset and Visa Bans: Sanctions include freezing assets located in the US and immediately revoking visas for individuals involved in espionage or supporting hostile militaries.
  • Focus on Critical Components: The law specifically targets the flow of critical components (like semiconductors) to adversaries' military sectors, citing concerns over foreign support for Russia.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McCormick, Richard [R-GA-6].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5071-5072)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Security Economy