S. 2960: Deter PRC Aggression Against Taiwan Act

The Deter PRC Aggression Against Taiwan Act aims to create economic strategies to deter aggressive actions by the People's Republic of China (PRC) regarding Taiwan. Key elements of the bill include:

Immediate Sanctions Authority

The bill expresses the intent of Congress for the U.S. to promptly impose sanctions against entities linked to the PRC that support actions targeting Taiwan. This includes actions that:

• Attempt to overthrow or dismantle Taiwan’s existing government.
• Occupy any territories administered by Taiwan.
• Violate Taiwan's territorial integrity.
• Conduct significant military or non-military actions against Taiwan, such as naval blockades or cyber attacks.

Establishment of the PRC Sanctions Task Force

A task force will be set up within 180 days of the bill's passage. This task force will:

• Identify military and non-military entities that could be sanctioned following aggressive actions by the PRC.
• Analyze existing sanction frameworks and propose new authorities if necessary.
• Assess potential economic impacts of sanctions on the U.S., its allies, and the PRC.
• Coordinate with allies to maximize the effectiveness of sanctions and provide support to Taiwan or other countries threatened by the PRC.
• Identify industries highly relevant to these sanctions efforts and ensure a comprehensive approach.

Annual Reporting Requirements

The task force is required to provide annual classified reports to Congress, which will include:

• Identified entities that may be sanctioned.
• New sanction authorities required.
• Projected economic impacts of these sanctions.
• Strategies and recommendations to address resource gaps in federal agencies involved in sanctions enforcement.

Collaboration with Allies

The bill emphasizes the importance of working with international partners to strengthen collective responses to PRC aggression. This includes the alignment of sanctions and economic measures to effectively counter any actions taken against Taiwan.

Mitigation Strategies

In addressing the economic impact of potential sanctions, the bill encourages exploring various methods such as:

• Licenses and exemptions to alleviate unnecessary negative consequences.
• Coordination with partners to ensure that support measures for Taiwan are robust and effective.

Definitions

The bill defines key terms, such as the appropriate congressional committees involved, what constitutes the PRC, and what is meant by the sanctions task force.

Relevant Companies

None found.