TAIPEI (Taiwan News) — The US House on Monday passed the PROTECT Taiwan Act, which would exclude China from participating in six global financial organizations if the president notifies Congress that China’s actions threaten Taiwan and run counter to US interests.

Representative Frank Lucas introduced the bill, with Representatives French Hill and Greg Stanton as co-sponsors.

The bill affirms it is US policy to remove China from six international organizations if the president informs Congress that China’s actions “pose any threat to Taiwan’s security, economic system, or social system” and undermine US interests.

The six organizations are the Group of Twenty, Bank for International Settlements, Financial Stability Board, Basel Committee on Banking Supervision, International Association of Insurance Supervisors, and International Organization of Securities Commissions.

Once the president notifies Congress, the bill would require the Department of the Treasury, the Federal Reserve, and the Securities and Exchange Commission to implement the measures.

Lucas said that if China intends to enter into conflict with Taiwan, it must be prepared to bear the consequences, CNA reported. Washington’s response to an invasion of Taiwan should be strong and include multiple sanctions and economic penalties, he said, adding that exclusion from international organizations must be part of that response.

Hill said that under the 1979 Taiwan Relations Act, China cannot use force, coercion, boycotts, or embargoes to compel Taiwan to submit to the Chinese Communist Party and become part of “one China.”

Stanton said on X that “the Chinese Communist Party shouldn’t benefit from global systems if it threatens its neighbors. America must be firm, consistent, and focused on maintaining peace in the region.”