UPDATED 6:04 PM PT – Wednesday, June 9, 2021
Sen. Tommy Tuberville (R-Ala.) said he believes Communist China is America’s biggest adversary. In a recent interview, the Alabama senator said China has taken advantage over the U.S. economy and used its trade and investment revenues to build up its military.
Tuberville said we must not allow U.S. businesses and the federal government to invest in China. Last month, the senator proposed a bill to limit U.S. investment in China, which amounts to $700 billion each year.
Tuberville stressed Beijing does not play by the rules and it’s using America’s own money to threaten U.S. national interests and security. He claimed that every business in China is ran by the Chinese Communist Party in some way, even if they say otherwise.
As our economy recovers from the pandemic & we face increasing aggression & manipulation from China, the time to invest in our workforce and competitiveness is now. That’s why today’s bipartisan passage of the U.S. Innovation and Competition Act in the Senate is so monumental.
— Sen. Jeanne Shaheen (@SenatorShaheen) June 8, 2021
Meanwhile, Joe Biden has decided to expand a Trump-era ban on investments in Chinese defense and technology firms. Tuberville noted that his proposed legislation “would not allow any president from now on” to allow investments of Thrift Savings Plan funds in China.
Other senators are coming together in agreement, with Jeanne Shaheen (D-N.H.) stating, “it’s alarming that billions of dollars from the retirement accounts of federal government employees, like our military, are currently invested in China and prop up companies that threaten American interests and values.”