House Republican Conference Chair Cathy McMorris Rodgers (R-WA) joins CNBC’s Squawk Box to discuss the House’s strongly bipartisan work on CFIUS reform, and the importance of keeping America’s best interests in mind as we navigate international trade.
Here’s what you may have missed:
This week, the People’s House passed bipartisan legislation to revamp the Committee on Foreign Investment in the United States, protect American innovation, and be tougher on China. pic.twitter.com/BVt52xPkwR
— CathyMcMorrisRodgers (@cathymcmorris) June 27, 2018
Host Michelle Caruso-Cabrera: “400-2 in the House. That’s bipartisan support, if ever. It was two Republicans that voted no. Democrats equally on board along with Republicans on [CFIUS reform].”
“This is an issue they’ve been working on for several months, even years. [There is] road bipartisan support as you look at protecting American interests, and I think that’s where we can come together. There’s a big debate going on right now over trade…I am concerned about the tariffs. I’m concerned about trade wars. In all of this, though, I also believe fully that we must protect American interests.”
Host Michelle Caruso-Cabrera: “Are you concerned about what many would argue is the over-use of ‘national security’ as a justification for lots of different things that would just be trade barriers in any other circumstance?”
“…we definitely have to be looking at that. Congress has a role of oversight, and I am working with my colleagues right now to really readdress our role when it comes to tariffs and some of the decisions related to trade. But clearly we need to make sure that we’re putting American interests first. That’s why you saw the overwhelming support of the CFIUS law earlier this week in the House.”