Republican Senator Dan Sullivan of Alaska is co-sponsoring a bipartisan bill called the FIGHT China Act to curb investments in China, specifically in key tech industries like artificial intelligence. The concern is that technology developed in the US and transferred to China could be used for harmful purposes. The bill would require Americans to notify the Treasury Department when making certain investments in China.
The bill has support from other senators, including John Cornyn of Texas and Catherine Cortez Masto of Nevada. The proposed legislation would cover a range of investments including acquisitions, joint ventures, and debt financing. It would also empower the Treasury secretary to block certain investments and sanction Chinese firms partnering with the government in Beijing.
The history of Alaska’s experience with China, specifically under former Governor Bill Walker’s negotiations for the Alaska LNG pipeline, exemplifies the potential risks of technology transfer to China. The bill addresses concerns about capital flowing from the US to countries like China, aiming to protect American innovation and prevent technology from being used against the US.
President Donald Trump has expressed support for getting tough on China, doubling tariffs on Chinese imports as part of a trade war. The Senate is moving forward with the FIGHT China Act without waiting for the House version, signaling potential differences in approach. The bill is seen as a less stringent version than initially drafted, likely to face less opposition from multinational firms.
Source
Photo credit mustreadalaska.com
