Washington, D.C. – U.S. Senator Marco Rubio (R-FL) appeared on Fox News’ Tucker Carlson Tonight to discuss legislation he is introducing that will correct an economic relationship with China that has become increasingly unbalanced for the United States and other nations.
A rough transcript of Rubio’s remarks are transcribed below.
RUBIO: For the same reason that this is an issue that surprised me. You know for years I’ve kind of been a traditionalist on it all thing and do what most people did, that eventually it will all work out, they’d become more democratic. And then I started getting involved in human rights issues in China and that led me to kind of understand the broader plan that they have in place. This is not an economic plan on their part or a development plan. This is a plan that undermines not just our competitiveness but the competitiveness of every country in the world to become the dominant nation, the dominant economic, industrial and technological power and they are using multiple tools including intellectual property theft to do that. So not only are they undermining our industrial base they are also undermining our technological base through something called “Made in China 2025” where they intend not just to supplant America, but all countries on earth and the west. And automobiles and passenger aircrafts, quantum computing and artificial intelligence. They’ve laid out the entire industries, and they are slowly but surely carrying out this plan.
Some of them are starting to, some of them are making some money over there. When CEOs, many of these multinational corporations they consider themselves to be citizens of the world. These CEO’s are going to be gone in 8 years. They don’t feel, many of them, don’t any special obligation to the United States, they feel an obligation to maximize return for shareholders. As a result if they have a good thing over there making money, who cares if they’re stealing technology. In 10 years the company won’t be able to even compete with them. It’s working out in the short term and that makes them look good. That’s a part of it, others are beginning to complain but they’re afraid to say so because they don’t want to get kicked out. Just the other day we heard, two airlines, United and American are being told that unless they stop defining Taiwan as a country, they no longer will be able to fly there. They’re threatening them with hundreds of flights and billions of dollars in revenue. Marriott fired an American worker, about 6 months ago because the worker put up a tweet-or liked a tweet -about Tibet. They fired an American, over a tweet that the guy put up by mistake. That’s what’s happening.
So we’ve got a bill a bill that addresses it, and if I could briefly walk through the five points because they’re important. Number one, we would prohibit the transfer of any and all technologies that are sensitive. Things like quantum computing and biosciences, and artificial intelligence and the like. The second thing we would do is we would place a tax on excess Chinese investment in the United States. How that works basically is, let’s say they buy ten billion dollars of Fortune 500 stocks. That will raise the price of the stock, that will issue that revenue, dividends. They then take that dividend money and they use it to buy U.S. treasuries which increases the price of the dollar, the value of the dollar, thereby making American exports more expensive than a Chinese export, thereby destroying our capacity. And so this is not economic development on their part, this is a strategic use of investment as a weapon to undermine our production capacity.
We would also put a tax on American companies entering joint ventures with Chinese companies, because what they do is they make you partner with them, and then they steal your technology, your intellectual property, and all of the sudden they become your global competitor, they kick you out, and they put our companies out of business. These are the kinds of things that we’re going to be looking at in this bill to put in place, to even the playing field. Let me just say this ,this is not an economic issue, this is not a trade issue, this is not a tariff issue. This is the single most important geopolitical issue of the last hundred years. It will define what the 21st century turns out to be.