Slashdot Mirror

← Back to Stories (view on slashdot.org)

Anti-China Bill Being Softened After US Companies Complain (reuters.com)

Posted by msmash on from the change-in-heart dept.

Proposed legislation in Congress aimed at preventing China from acquiring sensitive technology is being softened after protests by big U.S. companies who fear a loss in sales, Reuters reported on Thursday, citing people with knowledge of the matter. From the report: Two bills in the House of Representatives and Senate would broaden the powers of the inter-agency Committee on Foreign Investment in the United States (CFIUS) in hopes of stopping Chinese efforts to acquire sophisticated U.S. technology. The bipartisan legislation has the support of President Donald Trump's administration. "We are concerned that it vastly expands the scope and jurisdiction (of CFIUS)," said Nancy McLernon, chief executive of the Organization for International Investment, a group that represents global companies with U.S. operations. Given the alarm that the legislation has caused, Senator John Cornyn's staff is drafting changes to address industry concerns, according to three sources. Cornyn's office did not respond to a request for comment.

2 of 71 comments (clear)

  1. put china on the list with terrorist nations.. by Anonymous Coward · · Score: 0, Interesting

    the shit they (prc government) pull against their own citizens is just as 'bad'... so they should be on that list, that bans certain technology exports, to libya, iran, syria, dprk, etc.

  2. This really is fake news. by Anonymous Coward · · Score: 3, Interesting

    Proposed legislation in Congress aimed at preventing China from acquiring sensitive technology is being softened after protests by big U.S. companies who fear a loss in sales

    This portion of the summary conflicts with the facts:

    Nancy McLernon, chief executive of the Organization for International Investment, a group that represents global companies with U.S. operations

    The truthful facts of this issue is that China is stealing or being given sensitive technology that harms US companies and interests. An organization representing the non-US companies that benefit from IP theft and noncompetitive quasi-legal corporate espionage practices says stopping that flow of technology will harm sales.

    Of course it will harm their sales. That is the point!

    Do we run news articles about prisoners that believe harsher penalties on crime will harm their freedoms and claim law-abiding citizens made the claim?

    Of course not. For that would be, at best, propaganda of a narrow interest group.

    Reuters knows better. Msmash knows better.