Memo to Mnuchin - Read POTUS’ Lips on Underwriting Our Chinese Communist Party Enemy

2021-01-05

This is Frank Gaffney with the Secure Freedom Minute. Late yesterday, the New York Stock Exchange reversed a recently announced plan to delist three giant telecom companies associated with the Chinese Communist Party and its military. Evidently, it did so after consultations with the Treasury Department, whose Secretary, Steven Mnuchin, has actively opposed President Trump’s Executive Order to bar U.S. investors from putting their funds into such entities. By signaling that Americans can co...

This is Frank Gaffney with the Secure Freedom Minute.

Late yesterday, the New York Stock Exchange reversed a recently announced plan to delist three giant telecom companies associated with the Chinese Communist Party and its military. Evidently, it did so after consultations with the Treasury Department, whose Secretary, Steven Mnuchin, has actively opposed President Trump’s Executive Order to bar U.S. investors from putting their funds into such entities.

By signaling that Americans can continue business as usual with CCP companies until November, Treasury has unilaterally undermined the President’s decision. The State Department and Pentagon, which have been commendably very clear about the imperative need to stop our underwriting of People’s Liberation Army-tied businesses, were apparently blindsided.

Joe Biden may be happy to have Americans invest in our enemies. Donald Trump clearly is not. And his administration needs faithfully to enforce this President’s national security-minded direction.

This is Frank Gaffney.

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