The US House of Representatives yesterday passed a bill that seeks to deter Chinese military action by exposing the corruption of Chinese Communist Party (CCP) officials in the event of military action against Taiwan.
This bipartisan Taiwan Conflict Deterrence Act was introduced in early February by Republican Lisa McClain and Democrat Brad Sherman, targeting members of the CCP's Politburo Standing Committee and other senior officials whose duties involve matters related to Taiwan.
Photo: EPA-EFE
The bill requires that "the Secretary of the Treasury publish a report on financial institutions and accounts connected to senior officials of the People's Republic of China, to restrict financial services for certain immediate family of such officials, and for other purposes."
The bill authorizes the US treasury secretary to prohibit CCP officials from accessing funds in US financial institutions, and requires that an unclassified summary or portions of the report be made public on the US Department of the Treasury Web site and social media accounts in Chinese and English.
The bill also requires the treasury secretary to prohibit financial institutions from conducting significant transactions with the immediate family members of the aforementioned officials.
"The United States cannot afford to be complacent in the face of growing Chinese aggression," McClain said before the bill's voice vote.
"As a proud representative from the state of Michigan, a state that knows the value of manufacturing, trade and international stability, I know firsthand how vital peace in the Indo-Pacific to American jobs and our economy is," she said.
The Republican lawmaker later described Taiwan as a democratic partner and a key player in the global supply chain, in particular semiconductors.
"This bill sends a clear and bipartisan message: If the CCP rages war against Taiwan, there will be consequences," McClain said.
"We're talking real, targeted consequences for corrupt CCP elites. Their financial dealings and offshore accounts will be exposed and published for the Chinese people to see," she said.
The bill needs to be passed by the US Senate before it can be signed into law by the US president.
The Taiwan Conflict Deterrence Act was unanimously passed by the House in the previous session, but it did not make it on to the Senate's agenda.
“China is preparing to invade Taiwan,” Deputy Minister of Foreign Affairs Francois Wu (吳志中) said in an exclusive interview with British media channel Sky News for a special report titled, “Is Taiwan ready for a Chinese invasion?” the Ministry of Foreign Affairs said today in a statement. The 25-minute-long special report by Helen Ann-Smith released yesterday saw Sky News travel to Penghu, Taoyuan and Taipei to discuss the possibility of a Chinese invasion and how Taiwan is preparing for an attack. The film observed emergency response drills, interviewed baseball fans at the Taipei Dome on their views of US President
The Central Weather Administration (CWA) today issued a "tsunami watch" alert after a magnitude 8.7 earthquake struck off the Kamchatka Peninsula in northeastern Russia earlier in the morning. The quake struck off the east coast of the Kamchatka Peninsula at 7:25am (Taiwan time) at a depth of about 19km, the CWA said, citing figures from the Pacific Tsunami Warning Center. The CWA's Seismological Center said preliminary assessments indicate that a tsunami could reach Taiwan's coastal areas by 1:18pm today. The CWA urged residents along the coast to stay alert and take necessary precautions as waves as high as 1m could hit the southeastern
ECONOMIC BENEFITS: The imports from Belize would replace those from Honduras, whose shrimp exports have dropped 67 percent since cutting ties in 2023 Maintaining ties with Taiwan has economic benefits, Ministry of Foreign Affairs officials said yesterday, citing the approval of frozen whiteleg shrimp imports from Belize by the Food and Drug Administration (FDA) as an example. The FDA on Wednesday approved the tariff-free imports from Belize after the whiteleg shrimp passed the Systematic Inspection of Imported Food, which would continue to boost mutual trade, the ministry said. Taiwan’s annual consumption of whiteleg shrimps stands at 30,000 tonnes, far exceeding domestic production, the ministry said. Taiwan used to fill the gap by importing shrimps from Honduras, but purchases slumped after Tegucigalpa severed diplomatic ties with Taiwan
The Executive Yuan yesterday approved a southwestern extension of the Sanying MRT Line from New Taipei to Bade District (八德) in Taoyuan, with a goal of starting construction by late 2026. The 4.03-kilometer extension, featuring three new stations, will run from the current terminus at Yingtao Fude Station (LB12) in New Taipei City to Dannan Station (LB14), where it will connect with Taoyuan’s Green Line, New Taipei City Metro Corp said in a statement. This extension will follow the completion of core Sanying Line, a 14.29-kilometer medium-capacity system linking Tucheng (土城), Sansia (三峽)
RSS