Senator Eric Schmitt (R-MO) is calling for Congress to adopt Cold War-era strategies to effectively counter China's growing economic influence. In a recent letter addressed to Senator Martin Heinrich (D-NM) and Representative David Schweikert (R-AZ), Schmitt proposed the implementation of annual unclassified reports and hearings focused on the Chinese economy, drawing parallels to tactics previously employed against the Soviet Union [f9bb160c]. He emphasized the need for a comprehensive approach to address various economic threats posed by China, including currency manipulation and intellectual property theft [f9bb160c].
Schmitt's advocacy for these measures comes amid broader discussions among U.S. lawmakers about the need to reassess economic policies in light of China's expanding maritime and economic reach. Senator Tim Scott (R-SC) has also voiced concerns regarding the implications of China's actions on U.S. national security and economic interests, particularly in relation to the semiconductor industry and export controls [1528e9ba].
The Joint Economic Committee, which plays a crucial role in shaping U.S. economic policy, is expected to be instrumental in developing strategies to counter China's economic activities. Schmitt, who previously sued China over COVID-19 in 2020, has maintained a focus on China during his 2022 Senate campaign, highlighting the urgency of addressing these issues [f9bb160c].
In a related context, Senator Tim Scott's remarks during a Senate Banking Committee hearing underscored the importance of safeguarding America's economic and national security priorities. He criticized the Biden administration's export control policies and called for collaboration with allies to prevent China from circumventing U.S. regulations [1528e9ba].
Additionally, bipartisan efforts are underway to address the growing maritime threat posed by China. Senators Mark Kelly, Marco Rubio, and Rick Scott have introduced the Strategic Port Reporting Act, which aims to counter Chinese influence in key global ports and secure U.S. trade routes [2b2f5399]. This legislative initiative reflects a broader recognition among U.S. policymakers of the need to strengthen maritime security as part of a comprehensive strategy to counter China's economic and national security threats [2b2f5399].
The convergence of these discussions highlights a growing consensus among lawmakers about the necessity of a robust and coordinated response to China's economic maneuvers, with an emphasis on bipartisan collaboration to protect U.S. interests [2b2f5399].