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119-hr-1486119th Congress

Economic Espionage Prevention Act

Sponsored By: Representative McCormick, Richard [R-GA-7]

Passed House

Summary

Targets economic and industrial espionage by foreign adversaries. This bill lets the President use visa bans and property-blocking sanctions against foreign persons who knowingly steal U.S. trade secrets, support foreign national security entities, or break U.S. export controls.

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  • Designated foreign persons. The measure applies to entities linked to China, Russia, Iran, North Korea, Cuba, and Venezuela's Maduro regime and allows blocking and prohibiting all transactions in their property and making aliens ineligible for visas, admission, or parole, including immediate revocation of existing visas.
  • Narrower IEEPA exemptions. It limits certain exemptions under the International Emergency Economic Powers Act so imports, exports, travel-related transactions, and some personal communications can be regulated during emergencies. The bill also removes those exemptions for bulk sensitive personal data and source code used in connected software applications.
  • Oversight and enforcement changes. The bill requires a State Department-led report within 90 days on PRC-linked transfers to Russia's defense industrial base and related exposures, allows Presidential waivers renewable for up to 180 days, and mandates annual reporting on notable economic or industrial espionage developments.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Sanctions for foreign economic espionage

Starting 30 days after enactment, the President could sanction foreign persons who knowingly commit economic or industrial espionage, support foreign military or intelligence entities, or violate U.S. export laws. Sanctions could block their property and interests in property in the United States or controlled by a U.S. person. Designated foreign nationals would be ineligible for visas or entry, and any current visas could be canceled at once. These actions would apply only when the conduct is knowing and tied to foreign adversary entities.

Imports excluded from these sanctions

The bill would not allow these sanctions to be used against the importation of goods. A good would mean an article or product, including supplies and test equipment, but not technical data. This could help importers and supply chains avoid sudden blocks tied to this Act.

Key definitions for who is covered

The bill would set key definitions for how these sanctions apply. A United States person would include U.S. citizens, lawful permanent residents, and companies formed under U.S. law, including their foreign branches. Knowingly would include what a person actually knew or should have known. The bill would use existing federal meanings for economic or industrial espionage and the list of foreign adversary countries.

Sponsors & CoSponsors

Sponsor

McCormick, Richard [R-GA-7]

GA • R

Cosponsors

  • Rep. Moolenaar, John R. [R-MI-2]

    MI • R

    Sponsored 2/21/2025

  • Rep. Baumgartner, Michael [R-WA-5]

    WA • R

    Sponsored 2/24/2025

  • Rep. Lawler, Michael [R-NY-17]

    NY • R

    Sponsored 3/5/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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