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Stronger Investment Curbs Are Needed to Counter China, McCaul Says

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House Foreign Affairs Committee Chairman Michael McCaul says Congress needs to tighten restrictions on US firms’ investment in China beyond those proposed by President Joe Biden earlier this summer, as recent breakthroughs in Chinese technology have spurred debate over the effectiveness of Washington’s controls.

The Texas Republican sees a path forward that builds on two legislative efforts: imposing sanctions against individual Chinese firms and curbing spending on a sector-wide basis.

“I think we can go down that list, sector by sector, and prohibit the sale rather than just notification,” McCaul told Bloomberg News in an interview at the Texas Tribune festival. “Put the sanctions piece in, and then we got a really strong countering-China bill.”

 

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