Reintroduced Bill Would Spur Probe of Certain Chinese Investments in US
Sen. Rick Scott, R-Fla., and Rep. Lance Gooden, R-Texas, reintroduced a bill last week that aims to counter China’s attempts to steal U.S. trade secrets and intellectual property. The legislation also seeks to protect U.S. critical infrastructure and supply chains from foreign investment.
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The Protect America’s Innovation and Economic Security from CCP Act would, among other things, require DOJ to investigate U.S. investments by Chinese companies that appear on the Commerce Department’s Entity List or the Defense Department’s Section 1260H list of Chinese military companies.
The bill also would require DOJ to work with the Treasury Department to strengthen enforcement of foreign investment regulations, particularly those dealing with China.
The legislation was referred to the Senate and House Judiciary committees.