Utah Valley Times

WASHINGTON—U.S. Senators Mitt Romney (R-UT), Catherine Cortez Masto (D-NV), James Lankford (R-OK), Sherrod Brown (D-OH), John Cornyn (R-TX), and Todd Young (R-IN) have introduced the bipartisan American Economic Independence Act. This legislation aims to address the national security risks posed by economic integration with China in key economic sectors.

Senator Romney highlighted the urgency of the situation by stating, “China is on a fast track to replace the United States as the global economic leader. Yet at the same time, we remain intertwined with China in virtually every sector of our economy.”

Senator Cortez Masto emphasized the importance of strengthening domestic supply chains, saying, “Nevada plays an essential role in ending our reliance on China for critical materials and helping the United States compete economically on the world stage.”

Senator Brown spoke about the negative impact of China's practices on Ohio, stating, “Ohioans know all too well how China illegally subsidizes its companies, putting our workers out of jobs and undermining entire industries from steel to solar manufacturing.”

Senator Cornyn stressed the need for a comprehensive understanding of economic intersections with China, saying, “To effectively counter China, the U.S. must have a full understanding of how our economies intersect.”

Senator Young highlighted the need for economic independence and risk mitigation, saying, “Our bipartisan bill would promote American economic independence and help mitigate any potential threats that may stem from future economic integration with China.”

The American Economic Independence Act focuses on analyzing national security risks from economic integration between the U.S. and China in key sectors such as financial services, artificial intelligence, critical minerals, and manufacturing. The legislation aims to provide a comprehensive threat analysis and recommendations to Congress to mitigate these risks.

For more information on the American Economic Independence Act and its objectives, interested parties can refer to the full text of the legislation available on the official government website.