Washington- The Coalition for a Prosperous America (CPA) has endorsed the United States Foreign Investment Review Act of 2017 (S. 1983) cosponsored by Senators Sherrod Brown and Charles Grassley. The bill strengthens the review of incoming foreign investment based upon whether the long-term strategic economic interests are served by the transaction. Current law allows review…
Editor’s note: CPA opposes Sen. Bob Corker’s attempt to block the 232 national security tariffs on steel and aluminum. We support Sen Sherrod Brown’s blocking of the Corker legislation as reported in this article. Sen. Sherrod Brown (D-OH) on Tuesday blocked Sen. Bob Corker’s (R-TN) push to attach an amendment to a new farm bill that would…
Editor’s note: Harley Davidson’s union workers reveal that the company’s decision to offshore predated the EU tariff announcement and is part of a long pattern and practice. Most of the news media is getting this story wrong. WASHINGTON, D.C., June 25, 2018 – Robert Martinez Jr., International President of the International Association of Machinists and Aerospace Workers,…
Editors note: China’s MO is to deny it is trying to acquire power until the power is required. HAMBANTOTA, Sri Lanka — Every time Sri Lanka’s president, Mahinda Rajapaksa, turned to his Chinese allies for loans and assistance with an ambitious port project, the answer was yes. [ Maria Abi-Habib | June 25, 2018 | NY Times]…
Editor’s note: This article shows that even if a private Chinese company buys a US company, the enterprise is subject to being bought by or influenced by the government in Beijing. BEIJING—Chinese authorities confirmed the transfer of nearly full ownership of troubled Anbang Insurance Group Co. to a government-controlled fund, effectively transforming a once boldly entrepreneurial firm…
Editor’s note: Steel tariffs are causing a South Carolina steel plant to reopen with $5B planned investment and 125-300 new workers. British industrialist Sanjeev Gupta’s GFG Industrials on Monday reopened a shuttered South Carolina steel plant in a move that will allow his U.K.-based firm to circumvent the Trump administration’s 25% tariffs on steel imports.…
Editor’s note: China investment in the US is down by a whopping 90%. The economy has not crashed. Those that say we must allow the full flood of incoming investment to buy what it wants were wrong. Chinese investors face two major changes in US policy: Congress is expanding the national security investment review regime…
Editor’s note: CPA generally supports measures to restrict weaponized incoming investment from China and other countries who can take advantage of our open investment regime to procure critical technologies. Treasury is going to announce restrictive measures soon. Also, Congress is working on the Foreign Investment Risk Review Modernization Act which has similar aims. The Treasury…
We may be living through an era in which free trade is relegated to the dustbin of history. That’s because the notion of tariff elimination equaling free trade is becoming quaint. And the concept of a “level playing field” is similarly vague — and probably distracting. Op-ed by Michael Stumo, CEO of CPA, originally appeared…
Editor’s note. CPA supports this administration’s effort to restrict weaponized incoming investment from China and other strategic competitors. New U.S. investment restrictions could restrict Chinese access to over 1,000 U.S. companies in technology and other sectors that the administration has deemed vital to U.S. national security, an administration official told POLITICO. [DOUG PALMER and NANCY COOK | June…