No recent image

China has been advocating for U.S. executives, companies, and business groups to oppose legislation in the U.S. Congress that pertains to China, four sources aware of the initiative told Reuters.Letters from China’s embassy in DC have called upon executives to push U.S. lawmakers to change or ditch certain pieces of legislation that aim to bolster American competitiveness, the outlet reported, citing the text of a letter it had viewed and the unnamed sources.Here’s more from the outlet:Sweeping legislation to boost U.S. competition with China and fund much-needed semiconductor production, known as the U.S. Innovation and Competition Act (USICA), passed the Senate with bipartisan support in June. A related bill in the House of Representatives called the Eagle Act, which is more strictly policy focused, has stalled as Congress has been preoccupied with other domestic initiatives. The language in the letters, which Reuters determined were sent separately to a wide number of people, explicitly …

The post Chinese embassy reportedly lobbying American companies to oppose China-related legislation appeared first on Populist Press 2021 ©.