Last week, President Trump signed an executive order prohibiting investment in certain Chinese companies that the U.S. Department of State determined are supporting the Chinese military and government surveillance efforts.
I led a letter to the Trump Administration in late July, which several of my colleagues in Congress signed, that asked for a prohibition of retirement investment in Chinese companies that prop up the Chinese military, facilitate intelligence gathering, abuse human rights and threaten U.S. national security.
I am glad to see President Trump taking these issues seriously and being proactive.
For too long, the communist Chinese government has leveraged American investment dollars in private Chinese companies to fund their own appalling practices.
Hardworking Americans should not unknowingly have their retirement rely on and contribute to this system. President Trump’s executive order gives American investors a year to divest from these “Communist Chinese military companies” and 60 days to divest in companies that the U.S. later adds to this list. It is a fantastic first step.
Congressman Daniel Webster represents The Villages in the U.S. House of Representatives.