A group of Republican lawmakers plans to unveil legislation this week to keep Americans from investing in foreign defense companies with ties to China's military, according to a document seen by Reuters, the latest in a string of measures aimed at curbing U.S. funding for China-based firms.
WASHINGTON - A group of Republican lawmakers plans to unveil legislation this week to keep Americans from investing in foreign defense companies with ties to China’s military, according to a document seen by Reuters, the latest in a string of measures aimed at curbing U.S. funding for China-based firms.
Six months after the report is issued, American companies and citizens would be required to divest from those firms and would be banned from making new investments in them. While it was not immediately clear if Democrats or other Republicans would support the bill, anti-China sentiment is running high in the Capitol after China moved to curb Hong Kong’s independence. Both the Democratically-led House of Representatives and the Republican-controlled Senate approved legislation to punish top Chinese official for human rights abuses against Uighur Muslims.
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