Advertisement
US House passes finance bills bolstering Taiwan, squeezing mainland China ahead of island’s presidential election
- One supports including Taipei in IMF while another directs regulators to exclude Beijing from banking organisations over threats to self-ruled island
- California Republican Young Kim says her bill meant to send Taiwanese “a strong message of solidarity and support for their democracy”
Reading Time:3 minutes
Why you can trust SCMP
65
Bochen Hanin Washington
The US House of Representatives advanced three bipartisan finance bills concerning Taiwan and mainland China on Friday, bringing legislation meant to bolster American support for the self-ruled island closer to becoming law.
The first of the three, sponsored by California Republican Young Kim, supports including Taiwan as a member of the International Monetary Fund.
The second, introduced by Oklahoma Republican Frank Lucas, directs regulators to exclude the People’s Republic of China from banking organisations if the US president notifies Congress of threats to Taiwan arising from Beijing’s actions.
Advertisement
The third, sponsored by Pennsylvania Republican Dan Meuser, requires the US Treasury to push Beijing for greater transparency in its exchange rates at the IMF.
The first two bills passed the Republican-controlled House by voice vote, and Meuser’s bill passed 379-1. Now the bills must pass the full Democratic-controlled Senate before heading to President Joe Biden to be signed into law.
Advertisement
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x