Senate Bill Seeks Study of Chinese Foreign Investment 'Challenges'
Sens. Todd Young, R-Ind., and Gary Peters, D-Mich., reintroduced a bill July 31 that would direct the Commerce Department to lead an Interagency review of the “unique challenges” posed by Chinese foreign investment, especially acquisitions, and whether there are opportunities to work with “like-minded countries” to address those challenges.
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Chinese foreign investment “is a threat to the security of the United States and merits an aggressive policy framework to protect the interests, jobs, intellectual property, and security of the United States,” the legislation says.
The review also would look at the “impact that protectionist policies by other countries, including forced data localization rules, forced localization of production, industrial subsidies, and the infringement of intellectual property rights, have” on U.S. technology firms. It would explore how the U.S. could improve its ability to attract foreign investment from “trusted countries.”
The Global Investment in American Jobs Act was referred to the Senate Commerce Committee. A companion bill offered by Rep. Gabe Evans, R-Colo., received House approval in June.