President Trump has signed an executive order banning Americans from investing in firms the administration says are owned or controlled by the Chinese military.
Rep. Michael Waltz wrote “#China‘s massive military buildup is a direct threat on our national security & the free world. American companies should NOT be helping our greatest adversary on this mission. Right move by the Trump administration to keep American money out of the #CCP‘s pocketbook.”
#China‘s massive military buildup is a direct threat on our national security & the free world. American companies should NOT be helping our greatest adversary on this mission.
— Rep. Michael Waltz (@RepMichaelWaltz) November 12, 2020
White House National Security Advisor Robert O’Brien released in a statement “President Donald J. Trump signed an Executive Order to protect American investors from funding Communist Chinese military companies, including those designated by the Department of Defense in June and August of 2020.”
“Many of these companies are publicly traded on stock exchanges around the world, and individual investors in the United States can unknowingly provide funds to them through passive institutional investment vehicles such as mutual funds and retirement plans,” O’Brien continues.
“The President’s action serves to protect American investors from unintentionally providing capital that goes to enhancing the capabilities of the People’s Liberation Army and People’s Republic of China intelligence services, which routinely target American citizens and businesses through cyber operations, and directly threaten the critical infrastructure, economy, and military of America and its allies and partners around the world,” the statement adds.
“President Trump has no higher priority than the security of the American people,” he concluded.