Our bipartisan coalition of manufacturing, agricultural and labor members strongly supports the president’s bold actions. Beijing has engaged in ‘economic aggression’ for more than 20 years and the largest IP theft in the history of the world economy. Government-owned firms have repeatedly hacked America’s leading companies and stolen proprietary technology to build China’s economy. Several CPA members have had their intellectual property stolen by Chinese firms. US companies that attempt to do business in China are forced to sign coercive agreements that require the transfer of key technologies in return for short-term market access. Additionally, their new Cybersecurity Law requires foreign companies already in China to surrender their data and IP. These are aggressive actions by a nation taking full advantage of American companies and workers and are destructive to both our economic and national security. It is past time for America to defend itself with our strategic response to their Strategic Policy of ‘economic aggression’.
Statement by Daniel DiMicco (Chairman, Coalition for a Prosperous America) and Michael Stumo (CEO, Coalition for a Prosperous America):