Deterring China is a top priority in Congress for the House’s number four Republican.
Michigan Rep. Lisa McClain, GOP conference chairwoman, is putting forth legislation that would expose the assets of top CCP officials and bar them from using U.S. banking systems if China chooses to invade Taiwan.
Her bill would require the Treasury secretary to unleash details about illegal assets held by Chinese officials and “expose all the players” to show where their money is coming from to the public.
The U.S. has for decades operated under a deliberately vague “One China” policy that supports Taiwan with military aid but refuses to say whether America would defend Taiwan if China were to invade.
“This is deterrence. The U.S. can’t risk an invasion of Taiwan that would interrupt our critical supply chains,” McClain, a member of the Financial Services Committee, told Fox News Digital. “We need to keep the pressure up, we need to remember that China is not our friend.”
McClain’s legislation dropped just as President Donald Trump announced another 10% in tariffs he intends to place on Chinese goods – the latest shot in an escalating trade war. Canada and Mexico will also face another 10% in tariffs.
The president imposed minimum 10% tariffs on Chinese imports last month. He had also proposed 25% tariffs for Mexico and Canada, but those were delayed amid promises that the two countries would do more to step up border enforcement. However, Trump said Thursday the nations were still not doing enough to combat drug trafficking.
“Drugs are still pouring into our country from Mexico and Canada at very high and unacceptable levels. A large percentage of these drugs, much of them in the form of fentanyl, are made in, and supplied by, China,” Trump said.
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