On Wednesday, March 2, several U.S. senators proposed a bill to protect Taiwan from China’s military threat by using financial sanctions to restrain Beijing’s attempt to unify Taiwan by force.
Lawmakers said in a statement: “Passing this bill will make clear to General Secretary Xi that if he mimics Putin’s invasion, then he will be met with economic isolation and severe financial sanctions.”
The war between Russia and Ukraine has entered its eighth day, and there are more and more members of Congress who are concerned that Beijing may take military action against Taiwan.
The bill’s co-sponsors are 3 Senators, including Senator Rick Scott and Senator Kevin Cramer, Senator John Kennedy.
The content of the bill states, the Deterring Communist Chinese Aggression Against Taiwan Through Financial Sanctions Act would “impose devastating financial sanctions on the Chinese government if Communist China invaded or blockaded Taiwan, or attempted to change the status of Taiwan’s governance through use of force”.
Senator Rick Scott, a member of the Senate Armed Services Committee, said in a written statement that the bill is an addition to the Taiwan Invasion Prevention Act he proposed last year. The Taiwan Invasion Prevention Act he proposed last year would allow the U.S. president to take military action if China invades Taiwan.
Scott said in the statement, “As Beijing quietly watches Putin’s invasion of and assault on Ukraine, America must stand strongly behind our partners in democracy and leave no ambiguity as to our resolve to condemn and punish tyrants who attack our partners”.
The Deterring Communist Chinese Aggression Against Taiwan Through Financial Sanctions Act would:
“Sever all financial transactions between the U.S. and China if China engages in an armed aggression against Taiwan or its territories, invades Taiwan or its territories, blockades Taiwan or its territories, or attempts to change the status of Taiwan’s governance through the use of force”.
Senator Kevin Cramer said, “The situation in Ukraine is the very real consequence of weak leadership and a lack of a true deterrence for Russia. Taiwan is a friend, good trading partner, and beacon of freedom and democracy. Our bill threatens crippling financial sanctions as a deterrence to China trying to follow in Putin’s footsteps as it relates to Taiwan”
Senator John Kennedy, who co-sponsor the bill, said: “Russia is not acting alone in its hostile war of aggression—Moscow is banding together with Beijing to bully the world”.
He continued: “Now more than ever, we must make it clear to the Chinese Communist Party that armed aggression towards Taiwan would deal a devastating blow to China’s economy. As we know, waiting too long to sanction bad actors can create major national security risks at home. We can’t let China seize the moment to attack one of America’s key partners in the Pacific.”
Concerns and discussions about whether Beijing will take action against Taiwan have been around since the Ukraine crisis began.
Senator Lindsey Graham bluntly stated at a press conference on Wednesday that the further implications of what is happening in Ukraine would extend beyond Europe.
He said, “If Ukraine falls to Putin it will set in motion dire consequences for us as a nation. China will get the signal they can take Taiwan. The Iranians will believe that we have no will to stop their nuclear ambitions. The converse is true. If the Chinese see the world rally around Ukraine and the rule of law being applied to Putin’s war crimes, maybe they won’t go into Taiwan.”
On Tuesday, March 1, a senior U.S. military and security delegation, led by former Chairman of the U.S. Joint Chiefs of Staff Mike Mullen, visited Taiwan. Mike Mullen said the visit of his delegation that was sent to Taiwan by President Joe Biden was a clear testament to the U.S.’ commitment to the island country.