07.26.24

Sullivan & Duckworth Introduce Bipartisan S.T.A.N.D with Taiwan Act of 2024

WASHINGTON—U.S. Senators Dan Sullivan (R-Alaska) and Tammy Duckworth (D-Ill.), both members of the Senate Armed Services Committee (SASC), today introduced the Sanctions Targeting Aggressors of Neighboring Democracies (STAND) with Taiwan Act of 2024, which would impose devastating, comprehensive economic, energy, financial, and other sanctions on China in the event that the People’s Liberation Army (PLA) initiates military aggression against Taiwan. The suite of sanctions includes the targeting of Chinese Communist Party (CCP) members and Chinese financial institutions and industrial sectors, as well as prohibiting U.S. financial institutions—including investment companies, private equity firms, venture capital firms, or hedge funds—from making any investments in a Chinese entity that benefits or is affiliated with the CCP. The bill would also restrict importation of China-produced goods. 

“In these increasingly dangerous times, it is critical that America show steady, unwavering bipartisan commitment and resolve in support of Taiwan’s democracy,” Senator Sullivan said. “Every day, the CCP grows bolder and more aggressive in its threats against Taiwan, the United States, and our allies in the Indo-Pacific. We need to enhance cross-strait deterrence now. STAND with Taiwan mandates comprehensive and devastating economic, energy and financial sanctions against the leaders in the Chinese Communist Party if the Chinese People's Liberation Army were to initiate military aggression against Taiwan. I am excited to introduce this bill with Senator Duckworth following our visit to Taiwan earlier this year to reaffirm America’s commitment to this critical democratic partner.”

“I’ve always believed that if America wants to remain a global leader, we have to show up and support our friends like Taiwan—a partner that our nation has strong economic and military ties with—who are facing escalating threats from the People’s Republic of China as they work to strengthen their own democracy,” said Senator Duckworth. “After proudly leading a bipartisan delegation with Senator Sullivan to Taiwan earlier this year to demonstrate our strong support for the Taiwanese people, I’m glad to team up with him to help introduce the STAND with Taiwan Act. With this legislation, we’re sending a strong message to our partner and our competitors that we are here for long haul—and we won’t tolerate the kind of unilateral aggression that would endanger a democratic friend and the health and stability of the global economy.”

Senator Sullivan first introduced the STAND with Taiwan Act in 2022. In a meeting with the President of Taiwan during a successful bipartisan congressional delegation visit to Taiwan with Senator Sullivan, Senator Duckworth announced she would join as a sponsor of the bill.

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