U.S. Sen. Jim Inhofe (R-Okla.) led a letter to President Trump Thursday encouraging the administration to continue to aggressively use the CFIUS authorities to scrutinize any transaction or investment by People's Republic of China (PRC) state-owned or private enterprises that could threaten or undermine the national security of the United States during the coronavirus pandemic.
The senators write in part, “The stark reality is this: our adversaries are waging economic and financial warfare against us every day, and have specifically identified this crisis as an opportunity to insinuate themselves further into our capital markets-undermining our security and stealing our technology. There is clear and compelling evidence that our competitors see this as an opportunity to enhance their strategic position in key industries while other nations are paralyzed by the coronavirus pandemic. Specifically, the Chinese Communist Party and its vast political-industrial apparatus will undoubtedly prey upon cash-strapped American companies during this crisis.”
Inhofe was joined in sending the letter by Sens. Mike Crapo (R-Idaho), John Cornyn (R-Texas), Lindsey Graham (R-S.C.), Roger Wicker (R-Miss.), Jim Risch (R-Idaho), Deb Fischer (R-Neb.), Tom Cotton (R-Ark.), Mike Rounds (R-S.D.), David Perdue (R-Ga.), Thom Tillis (R-N.C.), Joni Ernst (R-Iowa), Dan Sullivan (R-Alaska), Marsha Blackburn (R-Tenn.), Kevin Cramer (R-N.D.), Martha McSally (R-Ariz.), Josh Hawley (R-Mo.) and Rick Scott (R-Fl.).
The full text of the letter to President Trump can be found here.