Senators Seek to Sanction Chinese Entities That Finance Fentanyl Trade
Senate Foreign Relations Committee Chairman Jim Risch, R-Idaho, and ranking member Jeanne Shaheen, D-N.H., introduced a bill last week aimed at curbing China’s export of fentanyl precursor chemicals to Mexican drug traffickers.
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 Break Up Suspicious Transactions of Fentanyl Act, or the Bust Fentanyl Act, would authorize the president to sanction Chinese government-owned or controlled entities, including financial institutions, that finance foreign opioid trafficking.
The bill would encourage the administration to identify Chinese individuals and entities involved in producing and trafficking fentanyl or its precursors. The administration would also be encouraged to target financial institutions that enable money laundering.
The bill was referred to the Foreign Relations Committee, which plans to consider the legislation March 11.