Three US senators have proposed a bill that would allow for financial sanctions against China in the event of an attack or invasion of Taiwan.
US senators Rick Scott, Kevin Cramer and John Kennedy introduced the deterring communist Chinese aggression against Taiwan through financial sanctions act, which would seek to impose financial sanctions on Beijing should it invade, blockade or enact regime change in Taiwan through the use of force.
The act would sever all financial transactions between the US and China in such an event, and also require the US president to implement sanctions within 30 days.
Photo: EPA-EFE
Sanctions would include a ban on transactions of property, the revocation of visas and restrictions on Chinese nationals involved in the use of force against Taiwan; restrictions on transfers of credit or payments between financial institutions with China; a ban on investment in equity or debt of sanctioned persons; and a prohibition against financial engagement with Chinese military and software companies, financial messaging systems and digital currencies.
Taiwan is one of the US’ most important partners in the Asia-Pacific region, and its peace and stability are in Washington’s security and economic interests, Scott said in a statement on Wednesday.
“We have watched communist China’s increasingly frequent actions to harass and intimidate the Taiwanese people, through regular military encroachments and cyberattacks. We must be clear that these intimidation tactics will not be ignored,” the statement said.
“As Beijing quietly watches [Russian President Vladimir] 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,” it said.
He said that passing the bill would make clear to Chinese President Xi Jinping (習近平) that if he follows Putin’s example, he would face economic isolation and severe financial sanctions.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old