March 6, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement praising the U.S. Treasury Department and the Trump administration for launching a full investigation into the Broadcom hostile takeover of Qualcomm:
“The U.S. Treasury and the Trump administration are absolutely making the right decision to conduct a full and thorough investigation into the Singapore-based Broadcom’s hostile takeover of U.S.-based Qualcomm, a leader in technology innovation. There is too much at stake with the transition to 5G technologies to outsource one of the top producers in that arena to foreign interests. The U.S. needs a secure, strong 5G network, and Qualcomm will undoubtedly be one of the players that helps achieve this goal. This is vital to our national security, and is the very reason CFIUS was founded to block technology transfers that would be detrimental to U.S. national interests.
“To quote the letter from the Department of Treasury, ‘Given well-known U.S. national security concerns about Huawei and other Chinese telecommunications companies, a shift to Chinese dominance in 5G would have substantial negative national security consequences for the United States.’
“President Trump has made it his mission to put America first, and he must not allow China to dominate the 5G technology arena. These actions by Treasury and CFIUS demonstrate that the President’s firm commitment is beginning to permeate government decision-making from top to bottom.”
Attachments:
“Trump, stop this foreign takeover of US tech giant,” By Rick Manning, March 5, 2018 at http://thehill.com/opinion/national-security/376476-trump-stop-this-foreign-takeover-of-us-tech-giant
Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 106 or at media@limitgov.org to arrange an interview with ALG experts.
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