Washington D.C. – Congressman Michael McCaul (R-TX), Republican Leader of the House Foreign Affairs Committee, joined Fox Business’ “Coast to Coast” with Neil Cavuto to discuss his role as Chairman of the China Task Force as well as the need to break U.S. reliance on the China and bring our supply chain home.

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On priorities for the China Task Force: “I was appointed to be Chairman of the China Task Force. We’ll be looking at all these issues in terms of supply chain out of China, medical supplies, technology, and advanced semiconductor chips. But with respect to the stock exchange, it’s very odd that there’s a carved-out exception for Chinese stocks. So under Sarbanes-Oxley while American companies have to comply with this transparency to open their books up, these companies from the Chinese Communist Party are excepted from that. I know there’s a bill out of the Senate to basically erase that exception so that they would have to be transparent as well.”

On the need to break U.S. reliance on China: “Well, I think the key here is to, when it comes to critical assets like medical, like semiconductor chips, to move our reliance outside of the Chinese Communist Party. I think the problem is that we have become vulnerable like Australia now, there is an 80% tariff on goods coming from Australia. They really put us in a vulnerable spot and I think we need to be more self-reliant as a nation. And the semiconductor chip one is a very good example, where we could actually pull supply chains out and start manufacturing more of these high-grade semiconductor chips right here in the United States, creating more jobs, but also enhancing our national security against what is going to be the most, biggest long-term threat to our national security interests.”