WASHINGTON – U.S. Senator Jim Risch (R-Idaho), chairman of the Senate Foreign Relations Committee, today introduced the Strengthening Trade, Regional Alliances, Technology, and Economic and Geopolitical Initiatives Concerning China Act (the STRATEGIC Act) to advance a comprehensive strategy for U.S. competition with the People’s Republic of China (PRC).
“The Chinese Communist Party is re-shaping the international order to benefit authoritarian regimes and directly undermine American and democratic interests,” said Risch. “That is why I have introduced the first comprehensive package of legislation that provides a U.S. strategy that will safeguard our interests, and those of our allies and partners, and retain our position as a global leader. This legislation will provide a blueprint to advance bipartisan cooperation in all aspects of the competition with China in 2020, and beyond.”
Key provisions of the STRATEGIC Act:
- Tackle China’s economic practices that distort global markets and hurt U.S. businesses, especially IP theft and mass government subsidization and sponsorship of Chinese companies.
- Confront tech competition by increasing technology collaboration with allies and partners.
- Safeguard institutions from malign and undue PRC influence.
- Strengthen U.S. posture in the Indo-Pacific to protect its interests, allies, and partners.
- Prioritize cooperation over conflict when possible on areas such as arms control, North Korea, and the environment, if the PRC demonstrates good faith and transparency.
To read the Senate Foreign Relations Committee release, click here.
Full text of this legislation can be found here.
In the press:
The Financial Times wrote an exclusive report on the STRATEGIC Act earlier today: “In an interview with the Financial Times, Jim Risch of Idaho, the Republican chairman of the Senate foreign relations committee, said the US lacked a 'comprehensive long-term strategy' to prod China to abide by international economic norms.
“He also said the US needed to tackle an 'increasingly unfavourable' military balance in the Pacific region by strengthening alliances with key countries including Japan, South Korea and Australia.
“Under legislation expected to be announced on Wednesday, Mr. Risch was to float a number of measures to rein in China at a time when relations between Washington and Beijing have deteriorated due to the coronavirus pandemic and tensions over Hong Kong.”
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