This bill requires the Treasury Department to act on information about Chinese military-industrial companies that have been identified in presidential reports. Specifically, within one year after the President submits a report identifying foreign persons involved in China's military-industrial complex, the Treasury Department must add any new qualifying companies to the Non-SDN Chinese Military-Industrial Complex Companies List that are not already on it. The bill applies to foreign persons and entities connected to China's defense and weapons manufacturing sectors. Once new companies are added to this sanctions list, the Treasury Department must publish the updated list in the Federal Register so the public and businesses know which entities are subject to U.S. sanctions and restrictions. The legislation establishes a one-year timeline for Treasury to complete this process, effectively creating a "shot clock" to ensure sanctions decisions are implemented within a set period.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.