Bill > HR704

Introduced Session

To safeguard certain technology and intellectual property in the United States from export to or influence by the People's Republic of China and to protect United States industry from unfair competition by the People's Republic of China, and for other purposes. This bill revises trade, finance, and tax provisions with respect to China. The bill directs the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China. The bill places a shareholder cap on Chinese investments in certain U.S. corporations. Federal agencies are prohibited from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China. The bill requires the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill aexpedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on such a list. The bill amends the Internal Revenue Code to repeal certain reduced withholding rates for residents of China, tax income received by China from certain U.S. investments, and tax income derived from certain Chinese investments. The bill also allows U.S. courts to hear cases against certain entities or corporate affiliates of a foreign state.

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K. Michael Conaway (R)*,  Rick Crawford (R),  James Hagedorn (R),  Roger Marshall (R),  Tim Ryan (D),  Scott Tipton (R), 

Referred to the Subcommittee on Courts, Intellectual Property, and the Internet. (on 03/04/2019)

Official Document