STAND with Taiwan Act of 2023

Sanctions Targeting Aggressors of Neighboring Democracies with Taiwan Act of 2023 or the STAND with Taiwan Act of 2023

This bill requires the imposition of sanctions in the event of a military invasion of Taiwan by China and addresses related issues.

If the President determines that China or any of its proxies has initiated a military invasion of Taiwan, or if a joint resolution making such a determination is enacted, the bill requires

• the President to impose visa- and property-blocking sanctions on certain senior officials of China's government and the Chinese Communist Party (CCP);
• the Department of the Treasury to impose property-blocking sanctions on specified foreign financial institutions, including banks under the jurisdiction of China and in which China's government holds an interest;
  
• Treasury to impose property-blocking sanctions on any entity affiliated with China's government or the CCP;
• the Securities and Exchange Commission (SEC) to prohibit the trading of the securities of an issuer affiliated with China's government or the CCP on a national securities exchange;
• Treasury to prohibit U.S. financial institutions from making certain investments, such as investments in an entity owned or controlled by China's government, the CCP, or China's military;
• the prohibition of the importation of certain goods, including goods produced wholly or in part in China or by certain entities owned or financed by China's government or the CCP; and
• a prohibition on any depository institution or SEC-registered securities broker or dealer processing funds transfers to or from China or for the benefit of Chinese government officials or CCP members.

Bill 118 s 1027, also known as the STAND with Taiwan Act of 2023, is a piece of legislation introduced in the US Congress. The purpose of this bill is to reaffirm the United States' commitment to Taiwan and to strengthen the relationship between the two countries.

The bill includes provisions that call for increased diplomatic and military support for Taiwan, as well as measures to enhance economic and cultural ties between the US and Taiwan. It also emphasizes the importance of Taiwan's security and stability in the region.

Additionally, the bill condemns any efforts by China to undermine Taiwan's sovereignty or to intimidate the Taiwanese people. It calls for the US to continue to support Taiwan's participation in international organizations and to oppose any efforts to isolate or marginalize Taiwan on the global stage. Overall, the STAND with Taiwan Act of 2023 aims to solidify the US-Taiwan relationship and to demonstrate the United States' unwavering support for Taiwan in the face of increasing pressure from China.