Bill > S5024

This bill, titled the "Stop PRC Economic Espionage Act of 2026," aims to strengthen prohibitions against economic espionage by amending existing law. Specifically, it proposes to expand the definition of a "foreign instrumentality" under Title 18 of the United States Code, which is relevant to economic espionage laws. Currently, a foreign instrumentality is defined as an entity substantially owned by a foreign government. This bill would add a new category: any entity "domiciled in a covered nation, as defined in section 4872 of title 10." A "covered nation" in this context refers to countries designated as foreign adversaries, and the bill's title suggests the People's Republic of China (PRC) is a primary concern. By including entities domiciled in these nations, the bill seeks to broaden the scope of individuals and organizations that can be prosecuted for economic espionage, making it harder for foreign adversaries to steal American trade secrets and intellectual property through their businesses operating within those countries.