Haley Campaign Press Release - Haley Slams Biden's China Rules as "Insufficient and Weak"

CHARLESTON, S.C. — Presidential candidate Nikki Haley slammed Joe Biden's rules on U.S. investment in China's technology sector as insufficient and weak. Biden's restrictions have been watered down over several months. They won't affect existing investments, won't take effect until next year, and will only apply to targeted types of technology and investments.

"Joe Biden's new rules are not even a half measure," Haley said. "They will do little to stop American money flowing to China's military through its tech companies. To stop funding China's military, we have to stop all U.S. investment in China's critical technology and military companies — period."

In a major foreign policy speech in June, Haley called for banning all U.S. investment in critical technology companies in China. She said:

For that matter, we should have no more investments that undermine America. China can't buy certain technologies from American companies, but Americans can still invest in Chinese companies developing those same technologies. Talk about a loophole. It's a massive one. By one estimate, U.S. portfolio investment in China rose $800 billion between 2017 and 2020 alone. Not all this money is funding military and technology breakthroughs. But much of it is. China is using our federally invested pensions to leapfrog America.

The American people deserve better. I will protect our investors and our national security. No more investments in any company that helps the Chinese military or supports the Communist Party – period. These steps are needed to prevent war and preserve peace. We can no longer be complicit in China's military rise.

Others have called for a much tougher approach. Rep. Mike Gallagher (R-WI) urged Biden to restrict both private and public market investments to organizations connected to the CCP's genocide, the CCP's technological rise, and the Chinese military. He said, "If American capital continues to flow to Chinese military companies, we are at risk of funding our own destruction."