Fair Trade with China Enforcement Act
Latest action (30 Jan 2023): Introduced
What this bill does
S. 153, the Fair Trade with China Enforcement Act, was introduced by Sen. Marco Rubio on January 30, 2023, and referred to the Senate Committee on Finance. The bill would direct the U.S. Trade Representative to annually publish a list of Chinese products tied to Beijing's "Made in China 2025" industrial policy, ban export to China of "national security sensitive" technology and intellectual property, cap Chinese ownership of certain U.S. companies producing components used in listed products at 50 percent, and bar federal agencies from using or contracting for telecommunications equipment or services from Huawei, ZTE, or similar entities. It would also require that goods on the new list automatically be treated as receiving a countervailable subsidy and causing material injury to U.S. industry in trade cases, end certain reduced U.S. tax withholding rates for Chinese residents under the existing U.S.-China tax treaty, and remove tax exemptions currently available to the Chinese government and its central bank on U.S. investment income.
The bill would primarily affect U.S. companies with Chinese ownership stakes, exporters of sensitive technology, federal agencies and contractors using restricted telecom equipment, importers of goods from targeted Chinese industries, and Chinese individuals, government entities, and financial institutions subject to U.S. tax withholding rules.
The bill was introduced in the 118th Congress and has not received a committee vote or further action. As with most introduced bills, it would need to be approved by the Finance Committee, pass both the Senate and House, and be signed by the President to become law; there is no indication in the record that it has advanced beyond introduction.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Fair Trade with China Enforcement Act
This bill revises trade, finance, and tax provisions with respect to China.
Specifically, the bill directs the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China, and it places a shareholder cap on Chinese investments in certain U.S. entities.
The bill prohibits federal agencies from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China.
Further, the bill requires the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill expedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on this list.
The bill amends the Internal Revenue Code to (1) repeal certain reduced withholding rates for residents of China, and (2) provide for the taxation of income received by China on certain U.S. investments.
Common questions
- What does S. 153 do?
- S. 153, the Fair Trade with China Enforcement Act, was introduced by Sen. Marco Rubio on January 30, 2023, and referred to the Senate Committee on Finance. The bill would direct the U.S. Trade Representative to annually publish a list of Chinese products tied to Beijing's "Made in China 2025" industrial policy, ban export to China of "national security sensitive" technology and intellectual property, cap Chinese ownership of certain U.S. companies producing components used in listed products at 50 percent, and bar federal agencies from using or contracting for telecommunications equipment or services from Huawei, ZTE, or similar entities. It would also require that goods on the new list automatically be treated as receiving a countervailable subsidy and causing material injury to U.S. industry in trade cases, end certain reduced U.S. tax withholding rates for Chinese residents under the existing U.S.-China tax treaty, and remove tax exemptions currently available to the Chinese government and its central bank on U.S. investment income. The bill would primarily affect U.S. companies with Chinese ownership stakes, exporters of sensitive technology, federal agencies and contractors using restricted telecom equipment, importers of goods from targeted Chinese industries, and Chinese individuals, government entities, and financial institutions subject to U.S. tax withholding rules. The bill was introduced in the 118th Congress and has not received a committee vote or further action. As with most introduced bills, it would need to be approved by the Finance Committee, pass both the Senate and House, and be signed by the President to become law; there is no indication in the record that it has advanced beyond introduction.
- Has S. 153 become law?
- Not yet. As of 30 Jan 2023, S. 153 is introduced.
- Who sponsored S. 153?
- S. 153 was sponsored by Sen. Marco Rubio [R-FL, 2011-2025] (Republican-FL), with 0 cosponsors.
- What's the latest action on S. 153?
- Introduced (30 Jan 2023).
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