U.S. Rep. August Pfluger (R-TX) on May 15 led a bipartisan bill that aims to protect American companies operating abroad from foreign companies that threaten their property rights.
“The protection of American property rights abroad is essential for fostering economic growth and maintaining our national security,” Rep. Pfluger said. “I urge my colleagues in Congress to support this critical legislation and send a clear message that the United States will not tolerate unjust actions against American companies.”
The congressman sponsored the Defending American Property Abroad Act, H.R. 8411, alongside nine original cosponsors, including U.S. Reps. Brian Mast (R-FL) and Terri Sewell (D-AL).
If enacted, H.R. 8411 would prohibit trade partners in the Western Hemisphere from engaging in certain activities, such as docking vessels and importing goods, if they have expropriated or otherwise seized property owned by American entities, according to a bill summary provided by the congressman’s staff.
Additionally, H.R. 8411 would require the U.S. Secretary of Homeland Security to designate prohibited properties and provide regular reports to Congress on enforcement efforts, and mandate reports from various agencies on the economic and national security implications of actions taken by foreign trade partners, the summary says.
“American companies operating abroad should not have to fear arbitrary government actions that undermine their property rights,” said Rep. Pfluger. “The Defending American Property Abroad Act will ensure that such actions do not go unchecked and that American businesses are protected from unjust expropriation.”
The measure has been referred for consideration to four committees in the U.S. House of Representatives.