(RoyalPatriot.com )- President Joe Biden will admit that President Donald Trump was right about China with all but his words.
On June 3, the president signed a new executive order that builds on a Trump-era order…and doesn’t just reverse it. The order amends President Trump’s decision to ban U.S. investors from investing in Chinese military firms, adding additional Chinese surveillance and defense companies that were recently exposed as a danger to the United States.
It was not accompanied by a statement apologizing to the former president for being called racist for implementing such a policy.
The expanded executive order also grants the authority to select appropriate companies to be added to the list to the Treasury Department and removes the power from the Defense Department…for some reason.
Specifically, the new order bans U.S. investors from investing in companies that are related to the development of Chinese surveillance technology that may be used to facilitate human rights abuses.
It really does just sound like a Trump policy, doesn’t it?
It bans any United States person from engaging in the sale or purchase of any publicly traded securities of all 59 companies listed in the executive order.
And as U.S. intelligence learns more about these companies in China, that list is still expected to grow.
Some examples of companies listed in the order are Hikvision, which is a video surveillance technology manufacturer, and state-run mobile network operators China Telecom and China Mobile.
The new order is largely welcome, but Florida Republican Senator Marco Rubio expressed his concerns about shifting the authority to the Treasury Department from the Defense Department. He said that it’s likely that Wall Street is helping to finance efforts from the Chinese Communist Party to replace America on the global stage, and that the Biden Treasury Department is worryingly close to Wall Street.
Sounds like a major conflict of interest…