Sherrill Applauds Biden Administration Executive Order that Protects U.S. National Security and Advanced Technologies
Parsippany, NJ — Following today’s Executive Order by the Biden Administration addressing outbound U.S. investments in technologies critical to America’s national security — like semiconductors, AI, and quantum computing — Congresswoman Mikie Sherrill (NJ-11) released the following statement:
“Today’s Executive Order requiring the notification and possible prohibition of outbound investment by U.S. companies into countries of concern is a welcome and critical step to protect our national security and economic competitiveness from foreign bad actors, chief among them the Chinese Communist Party.
“My work on the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party has continued to shine a light on the unfair and illegal trading practices that the CCP has used, and will continue to implement, in an attempt to win the competition for the key technologies of the future — practices that have cost thousands of jobs in New Jersey and nationwide. Under their ‘Made in China 2025’ plan, the CCP has explicitly stated their intent to utilize aggressive state intervention, alongside the theft of U.S. technology, to dominate the global economy.
“It is crucial, both for our economic and national security, that we stay competitive and do not sit idly by while the CCP engages in these unfair economic practices. Investment notifications and in some cases, prohibitions, are important to ensure that we do not hand over technology and expertise in key sectors such as semiconductors, artificial intelligence, and quantum that will tilt the playing field against our economy and companies.
“I am proud of the work we have done to support US competitiveness and combat the economic coercion of the CCP through the CHIPS and Science Act and Inflation Reduction Act, which have already led to a historic surge in US manufacturing and private chips investment. This Executive Order is the crucial next step to ensure that America and American businesses win the competition for the key technologies of the future.”
Congresswoman Sherrill appeared on CNBC’s Squawk Box earlier this week to discuss the one year anniversary and success of the bipartisan CHIPS and Science Act, as well as the critical need for this Executive Order on outbound investment. You can watch the full interview here.
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