03/28/2024

Rep. Robert Pittenger

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Congressman Pittenger led successful bipartisan effort to highlight national security concerns of proposed transaction

Rep. Robert Pittenger

WASHINGTON – Today, President Donald Trump used his authority to block the proposed Chinese takeover of Lattice Semiconductor, the third-largest American producer of critical technology for U.S. military applications.

In December, Congressman Robert Pittenger (NC-09) launched a bipartisan effort urging the Committee on Foreign Investment in the United States (CFIUS) to block the transaction.  A coalition of 21 Members of Congress supported Congressman Pittenger’s effort.

Today’s decision is based on a recommendation by CFIUS.

“We are not opposed to all Chinese investments, but we must be aware of the Chinese government’s strategic, systematic effort to infiltrate key American infrastructure through what appear to be benign business transactions,” said Congressman Pittenger.  “Granting China direct access to key military technology, the U.S. financial system, and other soft-power targets is simply unwise.  The global economy creates new national security risks not faced by previous generations.”

In addition to his effort to block the Lattice Semiconductor takeover, Congressman Pittenger has led Congressional efforts to block the proposed Chinese takeover of the Chicago Stock Exchange and MoneyGram.

Congressman Pittenger is also working with Senate Majority Whip John Cornyn (R-TX) on bicameral legislation to modernize the CFIUS process, which hasn’t been substantially updated since the 1970s.

Congressman Pittenger serves as Vice Chairman of the House Financial Services Subcommittee on Terrorism and Illicit Finance and Chairman of the Congressional Task Force on Terrorism.

To read Congressman Pittenger’s letter, click here.

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