8:35 → 8:45(11s)
Connect with the House Financial Services Committee Get the latest news: https://democrats-financialservices.house.gov/ Follow us on Facebook: https://www.facebook.com/USHouseFSC Follow us on Twitter: https://x.com/USHouseFSC Follow us on Instagram: https://www.instagram.com/ushousefsc/ Follow us on Bluesky: https://bsky.app/profile/ushousefsc.bsky.social ___________________________________ On Tuesday, February 25, 2025, at 10:00 a.m. (ET) full Committee Chairman Hill and Ranking Member Waters will host a hearing entitled, “Examining Policies to Counter China." ___________________________________ Witnesses for this one-panel hearing will be: • John Miller, Senior Vice President of Policy, Trust, Data and Technology and General Counsel, Information Technology Industry Council • Nicholas McMurray, Managing Director, International and Nuclear Policy, ClearPath • Celina B. Realuyo, Professor of Practice, William J. Perry Center for Hemispheric Defense Studies at National Defense University • Martin Mühleisen, Nonresident Senior Fellow, GeoEconomics Center, Atlantic Council • Dr. Rush Doshi, C.V. Starr Senior Fellow for Asia Studies and Director of the China Strategy Initiative at the Council on Foreign Relations; Assistant Professor, Edmund A. Walsh School of Foreign Service, Georgetown University ___________________________________ This hearing will highlight the challenges posed by China across a range of policy issues, including China’s dominance as an official creditor and its influence in the international financial institutions (IFIs), energy security, the development of cutting-edge technologies, and illicit fentanyl trafficking. The hearing will examine policy tools to outcompete China through growth, innovation, and cooperation with U.S. allies. Attached Legislation 1. H.R. __, the PROTECT Taiwan Act (Lucas): In the event of a Chinese threat to Taiwan, this bill would require the Treasury Department, Federal Reserve, and Securities and Exchange Commission to seek China’s exclusion from proceedings of the G20, Bank for International Settlements, Financial Stability Board, Basel Committee on Banking Supervision, International Association of Insurance Supervisors, and International Organization of Securities Commissions. 2. H.R. __, the Agricultural Risk Review Act of 2025 (Lucas): This bill expands the membership of the Committee on Foreign Investment in the United States to include the Secretary of Agriculture on all transactions related to the purchase of agriculture land, agriculture biotechnology, and any other transaction related to the agriculture industry in the United States. 3. H.R. 910, the Taiwan Non-Discrimination Act of 2025 (Kim): This bill lays out Taiwan’s eligibility to join the International Monetary Fund (IMF), and it would require the Treasury Secretary to advocate for Taiwan’s membership. 4. H.R. __, the Taiwan Conflict Deterrence Act of 2025 (McClain): This bill directs the Treasury Secretary, after delivery of a congressional notification pursuant to the Taiwan Relations Act, to submit to Congress a report identifying the financial institutions providing services to senior Chinese government officials. The bill would direct the Secretary to make the report public with a Chinese translation. In addition, the Secretary would be authorized to prohibit financial institutions from providing services to Chinese officials named in the report, as well as their immediate family members. 5. H.R. __, the International Nuclear Energy Financing Act of 2025 (Hill): This bill would require the United States Executive Director at the World Bank to advocate and vote for financial assistance for nuclear energy. The bill would also permit U.S. representatives at other international financial institutions – including regional development banks for Asia, Africa, Europe, and Latin America – to push for nuclear projects. 6. H.R. __, the Protecting America’s Medical Supply Chains Act of 2025 (Salazar): This bill amends sections of the Defense Production Act (DPA) to develop a medical supply strategy that is focused on national defense needs. By limiting the strategy to national defense, the bill would also help prevent the DPA from being abused for unrelated purposes. The bill is explicit in ensuring that countries like China do not have exclusive control over essential supply chain components. Further, the legislation requires any strategy to consider potential tradeoffs between DPA use and risks to U.S. competitiveness and innovation. These considerations will help the U.S. be better prepared for future emergencies that undermine national security. 7. H.R. __, the Stop Fentanyl Money Laundering Act of 2025 (Ogles): This bill provides authority to the Secretary of the Treasury to take special measures to thwart money laundering in connection with illicit fentanyl and narcotics.... Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=412832
