Top Republican China hawk says White House investment restrictions fall short

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Rep. Mike Gallagher, who chairs the House Select Committee on the CCP, said the executive order should account for public market investments.

Rep. Mike Gallagher, R-Wisc., says President Joe Biden's executive order banning some U.S. investments in Chinese technology should go further.He contends that too much authority to craft the rules belongs to the Treasury Department.

The Wisconsin Republican is the chairman of the House Select Committee on the Chinese Communist Party and a leading voice in the House on the risks of U.S. investment in China. Gallagher argued that investment restrictions can be used both defensively for national security, and as a weapon to weaken China's economic stature and its military capabilities by cutting off funds.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines