Protecting US Companies from Foreign Sustainability Regulations
This act aims to protect essential U.S. companies, particularly those vital to national interests, from complying with foreign sustainability regulations, such as the EU directive. This means these companies will not incur additional costs or alter their operations, potentially impacting employment stability and product availability in the U.S. The act also imposes penalties on entities that take adverse actions against companies adhering to these new rules.
Key points
Companies integral to U.S. national interests (e.g., extractive, manufacturing, defense sectors) will not be required to comply with foreign sustainability due diligence regulations.
The U.S. President can grant exemptions if a company demonstrates significant hardship due to the prohibition.
The act protects U.S. companies from adverse actions by entities attempting to enforce foreign regulations.
Foreign court judgments related to these regulations will not be recognized in the U.S., and violators may face fines or loss of federal contracts.
Introduced
Citizen Poll