Cybersecurity Policy Report, Bill Would Block Huawei’s Access to U.S. Financial System, (Mar 6, 2025)
Legislation designed to deny access to the U.S. financial system by Huawei Technologies Co. Ltd. and other overseas 5G original equipment manufacturers (OEMs) that engage in cyber-enabled trade secret theft has been introduced in the House.
The Neutralizing Emerging Threats from Wireless OEMs Receiving Direction from Kleptocracies and Surveillance States (NETWORKS) Act (H.R.1795, 119th Cong. (2025)) was introduced in the House by Reps. Chrissy Houlahan (D., Pa.) and Dale Strong (R., Ala.).
The bill would direct the president to use the powers of the International Emergency Economic Powers Act (IEEPA) to impose economic sanctions on Huawei and other 5G OEMs controlled by adversarial foreign nations that conduct cyber-enabled industrial espionage, according to a news release.
Huawei is already subject to export restrictions imposed by the Commerce Department that restrict the ability of U.S.-based technology companies to sell lasers, semiconductors, and other components to it. But it isn’t on the Treasury Department’s specially designated nationals (SDN) list, which would bar U.S. entities from engaging in financial transactions with the company.
Similar legislation was offered in 2022 shortly after the Department of Justice filed a criminal complaint that charged two Chinese intelligence agents with attempting to interfere with the U.S. prosecution of an unnamed Chinese “global telecommunications company” presumed to be Huawei (CPR, Dec. 19, 2022).
“Since we first introduced the NETWORKS Act, China’s cyber capabilities have only grown—and become more threatening,” Rep. Houlahan said.
“We welcome those who want to do businesses with America and Americans, but if our adversaries want to continue to access our banking system, they have to play by the rules. This legislation will hold foreign companies trying to steal American 5G technology accountable,” she said.
“China has a long history of espionage and stealing American intellectual property,” Rep. Strong said. “The NETWORKS Act is a critical step in protecting our telecommunications infrastructure from foreign adversaries that threaten our national security and economic future.”
News: FederalLegislation DataSecurity