U.S. Representative Blaine Luetkemeyer (R-Mo.), in his initial comments at a hearing on enhancing sanctions against the Chinese Communist Party (CCP), highlighted the CCP's targeting of U.S. businesses and emphasized the national security threats posed by the CCP through economic means. Luetkemeyer is the chairman of the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions.
Luetkemeyer stated, "Earlier this month, the CCP announced sanctions on five U.S.-based companies, causing them to lose any property they have in China and prohibiting them from working with Chinese organizations and individuals." The Congressman represents Missouri's 3rd District according to his Congressional biography. His political career includes service in the Missouri State House of Representatives where he chaired the Financial Services Committee before becoming the House Republican Caucus chairman. In addition to his current role as chair of the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, Luetkemeyer serves on both the House Select Committee on the Chinese Communist Party and the House Small Business Committee.
During his opening remarks, Luetkemeyer drew attention to recent sanctions imposed by the CCP on American businesses and their detrimental effects. He said, "We saw Chinese security forces raid and imprison local staff at US consultancy firms Capvision, Bain & Company, and Mintz. They imposed sanctions on US companies Lockheed Martin and Raytheon; banned US chipmaker Micron; detained a senior executive of Japan’s Astella Pharma group; and hit London-headquartered Deloitte with a record fine."
Moreover, Luetkemeyer indicated that the CCP is resolved to invade Taiwan within the next decade which would lead to more sanctions. He cautioned U.S. businesses about collaborating with China while commending U.S. Rep. Andy Barr's (R-Ky.) bill - The Chinese Military and Surveillance Company Sanctions Act. This legislation, he said, would "require the President to impose sanctions on companies involved with China’s defense or surveillance technology sectors."
