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June 29, 2018
Trump Open To Chinese Investment In US Tech
Official White House Photo by Joyce N. Boghosian
By 1600 Staff
President Trump has been tough on China in recent months, announcing $25 Billion in tariffs that are set to take effect in July. But he has surprised observers by his willingness to encourage foreign investment, including from the People’s Republic of China.
That decision was applauded by Silicon Valley Leadership Group CEO Carl Guardino, which is responsible for representing some of the tech’s most-respected employers, and millions of workers at those companies.
“We’re a global economy, and whether you’re a scrappy startup struggling to survive or a global firm, this need for foreign investments spurs innovation,” he said during an interview with FOX Business’ Liz Claman on Thursday. “It spurs American job creation. It helps us to be competitive around the world.”
The president on Thursday backed off his initial threats of limiting Chinese investment in the U.S., instead throwing his support behind a bipartisan effort that expands the types of foreign deals that are subject to scrutiny by CFIUS, which is an American interagency group that examines foreign investments to determine whether they threaten national security.
Silicon Valley isn’t the first place that comes to mind when someone praises the president’s policies. Yet, the move enables foreign investment that creates American jobs, a move that the president supports. As long as there is no threat to American workers or national security, President Trump supports any investment that will help Americans, and put their interests first.