Stronger Investment Curbs Are Needed to Counter China, McCaul Says
- GOP representative seeks to ban investment in China high-tech
- Biden issued executive order in July on investment in China
Michael McCaul.
Photographer: Kent Nishimura/BloombergThis article is for subscribers only.
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.