H. R. 803, known as the “Pressure Regulatory Organizations To End Chinese Threats to Taiwan Act” or the “PROTECT Taiwan Act,” proposes that if the President identifies a threat from the People's Republic of China to the security or economy of Taiwan, the United States will...
Simple Explanation
The PROTECT Taiwan Act says that if a threat to Taiwan from China is found, the U.S. will try to keep China out of important international financial meetings, but the President can decide not to if it's better for the country.