PROTECT Taiwan Act

Limit China at global finance meetings

If enacted, and if the President tells Congress under the Taiwan Relations Act that China’s actions threaten Taiwan and U.S. interests, the U.S. would seek to keep Chinese representatives out of key global finance meetings to the maximum extent practicable. This would apply to the Group of Twenty, the Bank for International Settlements, the Financial Stability Board, the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, and the International Organization of Securities Commissions. The Treasury Department, the Federal Reserve, and the Securities and Exchange Commission would take all necessary steps to advance this policy. The President would be able to waive the policy for any one organization by sending a report to the House Financial Services and Senate Banking committees stating it is in the national interest and explaining why. The Act would end on the earlier of five years after enactment or 30 days after the President tells Congress that ending the Act is in the national interest.