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Rubio Blasts Biden Investment Restrictions as “Almost Laughable”

Aug 9, 2023 | Press Releases

The Biden Administration outlined long-awaited restrictions on outbound U.S. investment in certain Chinese companies. The new rules, which won’t go into effect until sometime next year, fall far short of what is needed to protect America’s economic and national security interests.

U.S. Senator Marco Rubio (R-FL) criticized the new rules and announced forthcoming legislation aimed at blocking U.S. dollars from flowing to critical Chinese industries.  

  • “It is long overdue, but the Biden Administration finally recognized there is a serious problem with U.S. dollars funding China’s rise at our expense. However, this narrowly tailored proposal is almost laughable. It is riddled with loopholes, explicitly ignores the dual-use nature of important technologies, and fails to include industries China’s government deems critical. The U.S. needs to do better than this, which is why I will introduce legislation in September to create an outbound investment process that actually protects American economic and national security interests.” – Senator Rubio

Flashback … Last month, a majority of U.S. senators joined a Rubio-led effort to prevent the federal retirement savings of military servicemembers and federal workers from benefiting the Chinese Communist Party. Unfortunately, 42 senators joined together to block and defeat the amendment.