An influential US lawmaker
has introduced a legislation in Congress to provide incentives to American
companies to move back their manufacturing units from China in view of the
coronavirus pandemic which has killed over 90,000 people in the country. The
Bring American Companies Home Act, introduced by Congressman Mark Green, seeks
to cover the 100 per cent of their moving costs with the tariffs President
Donald Trump has levied on the Chinese imports.
"Attracting investment
in America is essential to reigniting our economy. But one of the big
disincentives for American companies moving back to our soil is the cost. For
many companies, it's too expensive and too risky to undertake an international
move at a time of such global economic uncertainty," Green said.
"China has made clear
it is not a reliable partner. To get America growing again, and to reduce our
dependence on China, let's open the doors of opportunity and incentivise
investment right here in our country. My bill is a pro-growth, common-sense
policy to do just that," he said.
Green has also introduced
the "Secure Our Systems Against China's Tactics Act' which prevents
China's strategic acquisitions during the pandemic by incentivising American
investors to back vulnerable companies that are critical to the US national
security.
Congressmen Ron Wright and
Marc Veasey have introduced the bipartisan Airport Infrastructure Resources
Security Act to protect critical US transportation infrastructure from China's
espionage and IP theft.
The legislation prohibits
the federal airport improvement funds from being used to purchase passenger
boarding bridges from companies that have violated the IP rights and threaten
the national security of the United States. From day one of this pandemic,
Communist China has been reckless and negligent in their COVID-19
response.
They failed to communicate
the disease's seriousness to the rest of the global community, leading to the
death of thousands of Americans, not to mention their own people. Make no
mistake, the Communist Party of China will stop at nothing to gain power and
control, Wright said, adding that "we cannot afford to give them inroads
to our most critical systems'.
"The national security
threat China and other adversaries pose to our transportation industry cannot
be underestimated," Senator John Cornyn said. Meanwhile, Congressman Jim
Banks, a member of the House China Task Force, and Congressmen Dan Crenshaw and
Lance Gooden, sent a letter urging Secretaries Mike Pompeo and Steven Mnuchin
to impose Magnitsky Sanctions on seven CPC officials for gross human rights
abuse, and negligent and hostile behavior that greatly increased the severity
of the COVID-19 pandemic.
"The Chinese regime's
open threat to interfere in American elections is just the latest of many
aggressive, hostile actions. It is desperate to avoid responsibility, so it has
reverted to desperate tactics. I'm neither surprised nor intimidated -- I'm
encouraged," Banks added.
The US and China signed the
phase one of their trade deal on January 16 to end the 22-month-long trade war
during which the two countries slapped tit-for-tat tariff hikes over products
worth nearly half-a-trillion dollars.
More than 300,000 people
have died due to the coronavirus pandemic and over 4.8 million people infected
around the world. The US is the worst-hit country with over 90,000 deaths and
over 1.5 million confirmed COVID-19 cases, according to Johns Hopkins
University. -- PTI