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Protecting US Technology and Industry from Unfair Trade with China.

This Act aims to safeguard American jobs and innovation by limiting China's influence on strategic US economic sectors. It prohibits the export of sensitive technology and makes it easier to impose tariffs on subsidized Chinese goods. Furthermore, it enhances national security by banning government agencies from using telecommunications equipment from companies identified as security risks.
Key points
Easier imposition of tariffs on Chinese products from key sectors (e.g., AI, robotics, semiconductors) to protect US manufacturing jobs.
Prohibition on exporting technology and intellectual property deemed sensitive to US national security to China.
Capping Chinese investment in strategic US companies at 50% ownership to limit foreign control.
Increased tax burden on Chinese residents and the Chinese government regarding income earned in the US.
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Additional Information
Print number: 118_S_153
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2023-01-30