‘This legislation is a critical step in confronting the CCP’s abuse of the financial system head-on,’ Rep. Roger Williams said.
The House of Representatives has passed legislation to safeguard the United States from financial threats posed by the Chinese Communist Party (CCP).
The legislation, the China Financial Threat Mitigation Act of 2025 (H.R.1549), passed a voice vote on July 23. It was introduced in February by Reps. Roger Williams (R-Texas) and Josh Gottheimer (D-N.J.), both members of the Committee of Financial Services.
The House passed H.R. 1549 by voice vote. https://t.co/C8GxOSvAa8
— House Press Gallery (@HouseDailyPress) July 23, 2025
Before the vote, Williams told his colleagues on the House floor that the CCP’s track record of interference and aggression against the U.S. financial system “is a serious and growing threat.”
“The CCP has a well-documented history of abusing international financial norms, jeopardizing both our national and economic security in the process, from manipulating currency and distorting markets to propping up state-owned industries and weaponizing finance for geopolitical gain,” Williams said. “The CCP’s actions are not just unfair, they are downright dangerous.”
Williams said these Chinese predatory practices harm U.S. businesses and erode trust in global markets.
Consequently, he called his legislation “a proactive measure” against the Chinese malpractices.
If enacted, the legislation would require the Treasury Department, in consultation with the Federal Reserve, Securities of Exchange Commission, Commodity Futures Trading Commission, and State Department, to issue a report identifying risks posed by China’s financial sector.
The report would include U.S. policies aimed at protecting its interests and recommendations for additional actions to strengthen international cooperation, with the goal of reducing risks and protecting U.S. interests.
“This legislation is a critical step in confronting the CCP’s abuse of the financial system head-on,” Williams said.
By Frank Fang
