The NETWORKS Act would require the President, starting 90 days after enactment, to block significant transactions involving property in the United States or controlled by a U.S. person when a foreign person produces fifth-generation or newer telecommunications technology and the President determines that the person’s related business conflicts with U.S. national security interests. The bill allows exceptions for certain food, medicine, and humanitarian transactions, and permits renewable waivers of up to 90 days if the President reports that a waiver is vital to national security. It also sets penalties for violations.
If enacted, the bill could restrict significant transactions involving the property of foreign firms that meet its criteria. It does not set out direct duties or benefits for the general public. Certain humanitarian-related transactions are exempt.
No publicly available information.
Congress states that secure telecommunications networks are important to U.S. national security and that risks from untrusted vendors outweigh potential benefits. It supports using economic tools to promote secure networks.
No publicly available information.