TAIPEI (Taiwan News) — US Senator Jim Risch is introducing a bill that aims to prepare for rapid US economic retaliation in case of a Chinese attack on Taiwan, Reuters reported Saturday.

Dubbed the “Deter PRC Aggression Against Taiwan Act,” the legislation would require the State and Treasury Departments to establish a task force that pre-identifies Chinese military and non-military targets for sanctions and export controls.

Risch, who chairs the Senate Foreign Relations Committee, said the plan borrows lessons from sanctions against Russia after its invasion of Ukraine. He argued the US must be ready to “hit China where it hurts” if Beijing uses force against Taiwan.

The legislation is expected to be introduced Monday, just ahead of a meeting between President Donald Trump and Chinese leader Xi Jinping. Washington is seeking a major trade deal with Beijing even as tensions rise over Taiwan.

In recent years, Beijing has intensified military maneuvers and political pressure. The US is Taiwan’s main foreign backer, though some analysts fear Trump may prioritize trade concessions over Taiwan’s defense.

Risch’s bill is one of several in Congress aimed at signaling support for Taiwan.