New House Bill Would Bar Lawmakers From Investing in Foreign Adversaries
Reps. Tom Kean Jr., R-N.J., and Hillary Scholten, D-Mich., introduced a bill last week that would prohibit lawmakers from making personal financial investments that involve China, Russia, Iran or other “foreign adversaries.”
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
The sponsors said that members of Congress shouldn't profit from countries that seek to harm the U.S.
If the proposed Foreign Adversary Investment Prohibition Act becomes law, House members and senators could be fined $5,000 for a first offense, $10,000 for a second offense, and $15,000 for subsequent offenses. The bill was referred to the House Financial Services and Agriculture committees.