WASHINGTON — Lawmakers introduced legislation Wednesday that would provide up to $700 million to help U.S. telecom carriers remove equipment purchased from Huawei Technologies Co. and other Chinese companies deemed a security risk.

The bill establishes a policy that U.S. next-generation 5G wireless networks shouldn’t include equipment or services provided by Huawei, ZTE Corp. 763, -4.61% or their affiliates, according to a summary. That goes beyond measures announced by the Trump administration last week targeting Chinese telecom equipment, which were aimed at imports of new Chinese equipment and placed restrictions on U.S. firms exporting components to Huawei.