Sen. Bill Hagerty (R-Tenn.), a member of the Senate Banking Committee, introduced a bill—the PROTECT USA Act—that he says will protect American companies from the European Union’s (EU) ESG reporting requirements.

Republicans and American business organizations have argued the EU’s ESG regulations would hurt and force compliance on U.S. companies. Hagerty’s bill would prohibit foreign governments from enforcing the rules against some American businesses and nullify foreign court judgments against protected companies.

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