The South Carolina senator is talking tough on the campaign trail, but has used his powerful committee perch to water down U.S.-China investment rules in Washington.
His record in Washington tells a different story.
Scott’s awkward dance on China reflects just how much pressure GOP candidates are now under to take an aggressive line with Beijing, in the mold of former President Donald Trump, even when their positions hew closer to traditional Republican stances favoring free trade and unfettered American investment overseas. The debate between those free market Republicans and the more populist, anti-China wing of the party has grown, and now is spilling over into the presidential race.
In recent months, Scott has used his Banking Committee perch to water down bipartisan Senate legislation that would have allowed the federal government to block deals with Chinese tech companies that presented national security risks. Now, that measure requires only that U.S. firms notify the government when they make those investments.
Not all Republicans are as eager to crack down on U.S. investments in China. In recent months, House Financial Services Chair Patrick McHenry has, focused on expanding existing corporate blacklists at the Departments of Commerce, Treasury and Defense, rather than imposing new disclosure requirements. Even the scaled-back amendment senators added their defense bill goes too far for the North Carolina Republican, who said last month that it “burdens U.S.
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