Florida’s Republican Sen. Marco Rubio criticized President Joe Biden Tuesday for “pulling a punch” against the Chinese Communist Party by not issuing an executive order restricting American investments in Chinese industries.
“The Biden Administration talks tough, but it never misses an opportunity to pull a punch,” Rubio said in a press release Tuesday. “The Chinese Communist Party is not looking to compete with America, but to overtake us by any means necessary. President Biden needs to wake up and do what is necessary to protect Americans, our industries, and our communities.”
Politico reported Sunday that the Biden administration was considering reducing “expensive” restrictions on American investments in China in a planned executive order.
Five sources interviewed for the story from Capitol Hill and the K Street lobbying sector in Washington, D.C., told the news outlet that the administration’s order would reduce investment restrictions and focus on making those deals transparent instead.
Investment restrictions would, however, still be placed on Chinese industry dealing with advanced semiconductors.
Other advanced technological investments would only require U.S. firms to notify the federal government about the deals they are involved in, according to the report.
The administration responded to the news outlet by saying that the “premise” of the story was “false.”
“The premise of this story is false, and its characterization of the planned requirements of an outbound investment program is inaccurate,” Saloni Sharma, a spokesperson for the National Security Council told Politico. “This administration has from the beginning focused on formulating an approach that addresses national security risks stemming from outbound investments in a way that is implementable and effective – and has a greater impact on the [Chinese government’s] efforts to acquire sensitive capabilities than it has on the competitiveness of American companies.”
Eric Sayers, former staffer for the U.S. Indo-Pacific Command during the administration of former President Donald Trump, said that whatever order comes out of the White House will likely not be the last.
“While this [executive order] is the first official step, we shouldn’t expect it to be the last,” Sayers said. “This will likely be an additive process that grows over time through both executive powers and legislative action.”
Rubio introduced eight bills in the Senate Jan. 31 that he said would protect Americans from the Chinese Communist Party.
“Our nation needs a strong response to Communist China’s disruptive and exploitative tactics. Too many American families, communities, and critical industries are suffering due to Beijing’s unfair and predatory policies,” Rubio said at the time he introduced the legislation. “Congress needs to reverse course and guard the American people from this genocidal regime, not assist in its rise.”
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