This bill aims to deter aggression by the People's Republic of China (PRC) against Taiwan through the development and implementation of robust economic tools. It mandates the establishment of an interagency PRC Sanctions Task Force within 180 days, led by the Department of State and Treasury, to identify military and non-military entities for immediate sanctions. These sanctions would be triggered by any PRC action demonstrating an attempt to achieve physical or political control over Taiwan, such as overthrowing governing institutions, occupying territory, or conducting blockades or cyberattacks. Within 180 days of its establishment, the Task Force must brief Congress on a comprehensive strategy. This strategy will assess existing and necessary new sanctions authorities, analyze potential economic consequences for the United States and its allies, and propose mitigation measures. It will also recommend how best to target sanctions against PRC individuals, entities, and economic sectors, considering their role in threatening U.S. interests and the global financial system. A key component involves coordinating with allies to leverage sanctions and other economic tools to deter aggression and provide economic support to Taiwan. Annually, the Task Force must submit a classified report to Congress detailing identified entities, required authorities, and potential economic impacts on the PRC, the United States, and its allies. This report will also outline mitigation efforts, resource gaps, and the status of international coordination regarding sanctions and other economic tools identified under this Act.