The US House Financial Services Committee on Tuesday passed three bills that would deter Chinese aggression against Taiwan and ensure its ability to participate internationally.
The Taiwan Conflict Deterrence Act targets Chinese officials and their family members, cutting them off from US-based financial services if Beijing acts against Taiwan.
The Taiwan Non-Discrimination Act would compel the US government to advocate for Taiwan’s admission into the International Monetary Fund. The fund works to promote international financial stability and monetary cooperation. Bill sponsor Representative Young Kim says the bill would allow Taiwan to share its success in economic development with the world.
Meanwhile, the PROTECT Taiwan Act would call on US agencies to isolate Chinese representatives from international financial institutions if Beijing invades Taiwan.
The three bills all passed unanimously in committee. They still need to be approved by the entire House and Senate before they can be signed into law.