PROTECT Taiwan Act

This bill says that if the President tells Congress that China’s actions threaten Taiwan and put U.S. interests at risk, the U.S. should work to keep China’s representatives out of major global finance groups. That includes the G20, 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 must take steps to make this happen.

The President can waive this policy for any of these groups if it’s in the national interest and explains why to Congress. The policy ends after five years, or sooner if the President tells Congress it should end in the national interest.

• Who is affected: China’s representatives at major international finance groups; U.S. financial regulators who would carry out the policy.
• What changes: The U.S. would push to exclude China’s participation in these groups if a Taiwan-related threat is formally reported to Congress.
• When: Only after the President alerts Congress about a qualifying threat; the policy lasts up to five years unless ended earlier.