Interior Alaska News

U.S. Senators Dan Sullivan of Alaska and John Cornyn of Texas, along with 11 other senators, have introduced the Foreign Investment Guardrails to Help Thwart (FIGHT) China Act. This legislation aims to protect U.S. national security by restricting American investments in certain Chinese technologies.

Senator Sullivan emphasized the importance of maintaining America's technological edge over China, stating: "Our country’s investments in innovative technology give us an enormous advantage over the Chinese Communist Party." He warned against American financial institutions investing in companies controlled by the CCP that develop advanced technologies like semiconductors and artificial intelligence.

Senator Cornyn highlighted the growing threat from China, noting: "The threat China poses to the United States’ national and economic security continues to grow." He stressed that this bill would prevent American innovation from being used against the U.S., adding that addressing capital flow issues was a priority identified during the Trump administration.

The FIGHT China Act has gained bipartisan support with co-sponsors including Senators Catherine Cortez Masto, Jim Banks, Elissa Slotkin, Pete Ricketts, Michael Bennet, Bill Hagerty, Andy Kim, Dave McCormick, Chuck Schumer, Tim Scott, Elizabeth Warren, and John Fetterman.

This proposed legislation would prohibit specific investments in China's development or production sectors deemed risky for U.S. interests. It also mandates notification to the U.S. Department of Treasury within 14 days for any covered investment made in these areas.