As the debate over tariffs on Chinese products and a potential trade war intensifies, there’s another battle emerging.
It concerns a multi-governmental agency called CFIUS - the Committee on Foreign Investment in the United States. CFIUS reviews foreign purchases of American companies to make sure they don’t jeopardize national security.
But a bipartisan group in the U.S. House and Senate says the committee needs expanded powers. In the House, North Carolina Congressman Robert Pittenger is leading an effort to overhaul CFIUS.
Should American companies give China access to advanced military technology?
The answer should be “no,” but surprisingly it’s legal and has occurred many times. Essentially, American companies are helping one of America’s adversaries catch up.
For years the Chinese government has evaded America’s technology-transfer safeguards and been allowed to vacuum up military-applicable technologies from U.S. companies. The Chinese have perfected the weaponization of investment as a legal means to achieve this massive transfer of dual-use technology, bolstering China’s military modernization. If the U.S. loses its military-technology advantage over China and other adversaries, it will one day cost American lives.
Combating the opioid epidemic has been a top concern of mine, as well as many of my House Republican colleagues.Last year, I helped pass the Interdict Act that seeks to stem the influx of fentanyl. This important legislation equips law enforcement with the most up-to-date chemical screening devices and scientific support so they can detect and intercept fentanyl and other synthetic opioids at the border, before the drugs reach our community.While stopping the flow of fentanyl and other prescription drugs is critical to overcoming this crisis, we also need to provide ample resources for treatment and prevention programs.
This is why I co-sponsored and helped pass the 21st Century Cures Act, which includes $1 billion in state grants to combat the opioid epidemic. Last year $15.5 million of the grant was released to North Carolina and additional funding should arrive this year.
Additionally, just a few weeks ago I helped pass the Bipartisan Budget Act that includes $6 billion to combat the opioid epidemic. These much-needed resources will fund new state grants, prevention programs, and law enforcement efforts.
President Trump recently declared the national opioid epidemic a public health emergency, devoting more resources and attention to fight the crisis on all possible fronts. In the coming months, I look forward to working with the president and his administration to address this epidemic and provide relief to the communities it has devastated.
China is weaponizing business investment, exploiting our laws to acquire military-applicable technology and sensitive data to strengthen their army and intelligence agencies. Congressman Pittenger's bipartisan legislation, endorsed by the Trump Administration and written in partnership with Senate Majority Whip John Cornyn, strikes back, as reported by Foreign Policy magazine.
The outlook for Chinese investment could get tougher still if bipartisan bills introduced in November by Senate Majority Whip John Cornyn (R., Texas) and Rep. Robert Pittenger (R., N.C.) pass. The proposed legislation would further ratchet up CFIUS scrutiny of foreign investment and take aim in particular at Chinese technology deals.
At a time when access to affordable credit is a practical necessity, there are nearly 100 million Americans with little or no credit history. These Americans are effectively blocked from taking advantage of the incredible opportunities America’s economy has to offer.
That is why I introduced the Credit Access and Inclusion Act which will enable 50 million Americans to establish a credit score, and help 50 million more Americans improve their existing score all on their own merits, without federal funds or burdensome government mandates.
As the world mourns Dr. Billy Graham’s passing, we should remember that he was not a great man because of his worldwide fame, or because he counseled presidents, or because of the astounding statistics of his incredible ministry. Dr. Graham was a great man because he was faithful to what God called him to do.
The Chinese government’s seizure of Anbang Insurance Group on Friday has regulators in the United States and elsewhere struggling to figure out what that means to the properties the company owns around the world. It is also raising questions about Beijing’s deep role in the Chinese economy and its sway over private companies — especially those that own or run big businesses abroad.
In Washington, the Anbang takeover has galvanized lawmakers and Trump administration officials who have called for the United States to take a tougher look at Chinese purchases of American companies. Officials in Canada and Europe are also watching closely to see how the takeover affects Anbang’s businesses in their backyard.
“If it can happen to Anbang, it can happen to any number of Chinese firms looking to gain a share of our critical industries, infrastructure and technologies,” said Robert Pittenger, a Republican representative from North Carolina.