Sanctions Lists Harmonization Act

Floor Speech

Mr. Speaker, I rise in support of H.R. 5613, as amended.

The U.S. Government operates many lists of foreign companies run by different departments with different departments. This is entirely appropriate. A North Korean nuclear proliferation agency is not the same as an unverified South Korean company.

While we may want to place restrictions on both, at least temporarily, the penalties and consequences should differ accordingly. The purpose of this bill is straightforward.

When one agency, like the Department of Commerce, lists a foreign entity, it ensures that other agencies, such as the Department of Defense, are formally notified. The right hand simply needs to know what the left hand is doing.

We need smart and effective policies, not a one-size-fits-all approach, particularly when it comes to economic statecraft and especially in our competition with China.

Mr. Speaker, I encourage my colleagues to support this bill. Also, since the gentleman said that he was prepared to close, that is my closing. It is my opening and my closing.

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