The United States should incentivize its private sector through tax incentives to bring vital supply chains out of China, Rep. Michael McCaul said Tuesday.
"In my district, right down the street, I've got Samsung, Apple," the Texas Republican said on Fox Business' "Mornings with Maria." "Why aren't we making semiconductor chips here in the United States, right there at home?"
The United States is "heavily reliant" on the Chinese Communist Party for medicines, personal protective equipment, and technology, said McCaul.
McCaul also said he agrees with President Donald Trump's call to keep $4.5 billion in federal employees' and military pension funds out of the Chinese market.
"It's not a democracy like this country," said McCaul. "The Chinese Communist Party controls everything in the state. Every technology, military innovation belongs to the state. That is as simple as that."
The lawmaker heads a new House task force on China, and he said he's taken the issues of China head-on, particularly with the origins of coronavirus and the work toward decoupling the United States from China's supply chain.
"They have stolen so much intellectual property, from the United States, I say really time to bring manufacturing jobs, as well semiconductors, back here to the United States," said McCaul.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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