Rubio Leads Bill to Protect American Workers From China’s Economic Aggression
Washington, D.C. — U.S. Senators Marco Rubio (R-FL) and Josh Hawley (R-MO) introduced the Fair Trade with China Enforcement Act, legislation that would safeguard American assets from Chinese influence and possession and help to blunt China’s tools of economic aggression. Rubio first introduced the legislation in May 2018. A one-pager of the bill is available here.
“The Chinese Communist Party is constantly taking aggressive action to undermine our economy and hurt American workers,” Rubio said. “It is more important now than ever that we fight back against Beijing’s malicious efforts to sabotage America’s economic and national security. How we respond to the growing threats posed by the CCP is the single most important geopolitical issue of our time and will define the 21st century.”
Specifically, the Fair Trade with China Enforcement Act would:
- Prohibit the sale of national security sensitive technology and intellectual property to China.
- Increase taxes on multinational corporations’ income earned in China at a rate similar to the lost value of stolen IP and technology.
- Cancel an income tax treaty signed in the 1980s and tax China on their “investment” in the U.S., including their holdings of the national debt.
- Prepare duties on, and impose Chinese investor shareholding caps on U.S. companies producing, goods targeted by the Made in China 2025 plan.
- Prohibit the federal government, or subsidiaries/contractors, from purchasing telecommunications equipment or services from Huawei and ZTE.