McCaul Calls for 90-Day Review of Commerce Department’s Bureau of Industry and Security at Atlantic Council EventPress Release
Washington, D.C. – Yesterday, House Foreign Affairs Committee Lead Republican Michael McCaul joined the Atlantic Council to discuss securing supply chains, the race for advanced technologies and how the United States can better compete against China. During the conversation, McCaul stressed the importance of bringing high tech manufacturing jobs back to the U.S., while also stressing the importance of preventing the sale and theft of America’s most advanced intellectual property (IP). At the event, McCaul highlighted his plans for greater oversight for the Department of Commerce’s Bureau of Industry and Security.
“If I’m fortunate enough to become the next chairman, I’m going to implement a 90-day review of this office and what they’re doing. Because they’ve never had any real oversight,” McCaul noted. “They control the exports and less than one percent of the licenses applied for were denied by BIS…We need to stop doing this. We are literally aiding and abetting the Chinese war machine that will be turned against Taiwan.”
Click here to view the full Atlantic Council event.