The following was released by Congressman Walter Jones yesterday:<\/p>\n
JONES APPLAUDS TRUMP FOR BLOCKING CHINA’S PURCHASE OF U.S. COMPANY<\/strong><\/p>\n Potential Acquisition Posed Threat to National Security<\/a><\/p>\n Sep 18, 2017 Issues: Economy and Jobs<\/a>, Armed Services<\/a><\/p>\n GREENVILLE, NC<\/a><\/strong> \u2013 Congressman Walter B. Jones<\/a> (NC-3) is thanking President Donald Trump<\/a> for blocking the sale of Lattice Semiconductor Corporation<\/a> to, among others, China Venture Capital Fund Corporation Limited (CVCF).\u00a0 Lattice Semiconductor is an American company that makes programmable logic chips.\u00a0 These chips are critical to American military applications, and are also used in industrial settings. CVCF is a Chinese corporation owned by Chinese state-owned entities that manages industrial investments and venture capital.\u00a0 In blocking the acquisition, President Trump found<\/a> that the proposed deal posed a national security risk related to \u201cthe potential transfer of intellectual property to the foreign acquirer, the Chinese government\u2019s role in supporting this transaction, the importance of semiconductor supply chain integrity to the United States<\/a> Government, and the use of Lattice products by the United States Government.\u201d<\/p>\n \u201cI would like to thank the president and his administration for standing up for our national security,\u201d said Congressman Jones<\/strong>.\u00a0 \u201cThe American people do not want to see important domestic capabilities, particularly those that are vital to our military, sold into the hands of countries like China.\u201d<\/p>\n After the proposed acquisition was first announced in November, 2016, Congressman Jones and 21 of his House colleagues urged the Obama administration to initiate a formal federal review of the transaction, and to consider blocking it due to the risks it posed to national security.\u00a0 That review, conducted under the Committee on Foreign Investment in the United States<\/a> (CFIUS) process outlined in section 721 of the Defense Production Act of 1950<\/a>, culminated in the President Trump\u2019s September 13th announcement blocking the deal.\u00a0 It is only the fourth time in the past 27 years that a U.S. president has blocked the acquisition of a U.S. firm by a foreign entity.<\/p>\n Congressman Jones is a member of the House Armed Services Committee<\/a>.\u00a0 He has been a long-time champion for trade and industrial policies that put American workers, companies, and strategic interests, first<\/a>.<\/p>\n A copy of the letter Congressman Jones and his House colleagues sent to then Treasury Secretary, Jack Lew<\/a>, can be found below.<\/p>\n For additional information, please contact Allison Tucker in Congressman Walter Jones\u2019 office at (202) 225-3415 or Allison.tucker@mail.house.gov.<\/strong><\/p>\n Thank you, Congressman, for helping keep America safe.<\/p>\n The following was released by Congressman Walter Jones yesterday: JONES APPLAUDS TRUMP FOR BLOCKING CHINA’S PURCHASE OF U.S. COMPANY Potential Acquisition Posed Threat to National Security Sep 18, 2017 Issues: Economy and Jobs, Armed Services GREENVILLE, NC \u2013 Congressman Walter … Continue reading