To terminate the United States-People's Republic of China Income Tax Convention if the People's Liberation Army initiates an armed attack against Taiwan.

HR 7874 would require the U.S. to terminate its 1984 tax treaty with China if China's military attacks Taiwan. The bill mandates that the President notify the Treasury Secretary within 30 days of such an attack, triggering formal treaty termination through diplomatic channels. It also requires the President to inform specific congressional committees about the termination. This bill directly affects U.S.-China tax relations but does not change current tax laws or rates.