Commerce Secy. Raimondo owns stake in Chinese conglomerate
UPDATED 12:12 PM PT – Saturday, March 6, 2021
Joe Biden’s newly confirmed commerce secretary pledged to aggressively compete against China, while also owning Chinese-linked investments. Secretary Gina Raimondo and her husband own a stake in Chinese conglomerate Tencent, despite the Department of Commerce’s ongoing investigation of the company.
President Trump signed an executive order in January, banning transactions with the holding company which some consider to be the “Google of China.”
Sen. Ted Cruz (R-Texas) notably called out Raimondo during her confirmation hearing for ducking questions on restricting Chinese firms.
During her confirmation hearing, Biden’s pick for Commerce, Gina Raimondo refused to commit that she would keep Chinese companies like Huawei (a spy agency impersonating a tech company) on the Entity List.
— Senator Ted Cruz (@SenTedCruz) March 4, 2021
“I asked her if she would keep those Chinese technology companies on the Entities List, she refused to make that commitment,” Cruz stated. “In fact, she wouldn’t even commit to keeping Huawei on the Entities List, which is unabashedly an espionage agency.”
Gina Raimondo’s ethics issues and soft stance on China including her refusal to commit to keep Huawei on the Entities List is deeply troubling.
That’s why I voted against advancing her nomination and I urge my colleagues to refuse to confirm her.
— Senator Ted Cruz (@SenTedCruz) February 3, 2021
Cruz also rebuked the Biden administration’s collective actions as embracing the “worst elements of the Chinese Communist Party.”