Hatch Statement on Administration’s Investment Restrictions Announcement

Utah Senator Says, “Both the president and Congress are determined to combat China’s discriminatory and market-distorting activities, and today’s action is another step in that joint commitment.” 

WASHINGTON – Senate Finance Committee Chairman Orrin Hatch (R-Utah) today released the following statement on the administration’s announcement regarding foreign investment, Section 301 of the Trade Act of 1974 and the Foreign Investment Risk Review Modernization Act (FIRRMA):

“The Chinese government carries out a hostile technology transfer regime targeting American companies and includes the government’s direct participation in stealing U.S. intellectual property. Both the president and Congress are determined to combat China’s discriminatory and market-distorting activities, and today’s action is another step in that joint commitment. China must change the policies underlying its technology transfer regime.”

Background: A longtime advocate of enforceable international rules to protect U.S. firms and workers, Hatch has fought to strengthen intellectual property rights (IPR) standards around the globe. Hatch authored legislation to increase U.S. enforcement of American IPR overseas, including improvements to the Special 301 mechanism and the establishment of a Chief Intellectual Property Negotiator at the Office of the U.S. Trade Representative (USTR). Hatch also spearheaded efforts in Congress to enact bipartisan Trade Promotion Authority (TPA) to help open more markets for U.S. exports and strengthen IPR protections in U.S. trade agreements, and he led enactment of the Defend Trade Secrets Act of 2016. 

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