This is a summary of the bill. Have any of you read its (I haven't)? All we have is Watters' characterization of the bill.
The RESTRICT Act is described as "a systematic framework for addressing
technology-based threats to the
security and safety of Americans." It grants the
Secretary of Commerce the authority to review transactions by certain foreign entities who offer "
information and communications technologies products or services" (ICTS), in order to identify, investigate, and mitigate "undue and unacceptable" risks to the
national security of the United States or its citizens. This includes but is not limited to:
- Impact to the country's critical infrastructure and digital economy,
- "Sabotage or subversion" of ICTS in the United States
- Interference and manipulation of federal elections
- Undermining the democratic process to "steer policy and regulatory decisions in favor of the strategic objectives of a foreign adversary to the detriment of the national security of the United States".
The Act applies to ICTS entities that are held in whole or in part by, or otherwise fall under the jurisdiction of a country or government that is designated under the Act as a "foreign adversary" of the United States, and has more than one million active users or units sold in the United States. The initial text of the Act classifies
China (including
Hong Kong and
Macau),
Cuba,
Iran,
Russia, and the
Nicols Maduro regime of
Venezuela as foreign adversaries.
It would be unlawful for any person to violate any order or mitigation measure issued under the RESTRICT Act, with civil penalties of up to $250,000 or "twice the value of the transaction that is the basis of the violation with respect to which the penalty is imposed", whichever is greater.[url=https://en.wikipedia.org/wiki/RESTRICT_Act#cite_note-:2-4][[/url]