U.S. lawmakers introduced a bipartisan sanctions bill against Chinese technology company Huawei Technologies Ltd and Chinese 5G companies, restricting their access to U.S. banks, Reuters reported.

The bill, introduced by Republican Senator Tom Cotton, seeks strict sanctions against Huawei and other untrustworthy Chinese 5G manufacturers that engage in economic espionage against the United States.

Lawmakers have tried to limit Huawei's access to U.S. banks in the past, proposing a similar bill in 2020 when President Donald Trump was in office.