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John Cornyn: “FIRRMA was a critical step toward de risking from China.”

Featuring: John Cornyn, Republican | U.S. Senate, Texas

Cornyn on Outbound Investment It’s High Time China is Held Accountable

Published February 25, 2025 | Video Starts at 02:29

This bipartisan legislation was signed into law by President Trump as part of the 2019 National Defense Authorization Act. FIRRMA was a critical step toward de risking from China. While this was a big win for Republicans and for President Trump, the truth is we still have more work to do. (02:29–02:35)

CLAIM

Asserts that FIRRMA was a critical step in reducing risk from China.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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John Cornyn

“Jing Xiaoping made it clear that his plans to, quote, reincorporate Taiwan in just 2027.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 00:52-01:01
“Back in 2018, I was proud to work with President Trump on modernizing the Committee on Foreign Investment in the United States.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 01:32-01:41
“The bill we ultimately passed and that was signed into law by President Trump was called FIRRMA, the Foreign Investment Risk Review…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 01:52-02:03
“According to the U.S. china Economic and Security Review Commission's 2024 report to Congress, U.S. investments in China's semiconductors…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 03:19-03:37
“In 2020, more than 90% of these investments were concentrated in the semiconductor industry.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 03:37-03:46
“From 2015 to 2021, US investors made up 37% of China's global funding for artificial intelligence.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 03:46-03:57
“Only 12% of those [advanced semiconductors] were made here in the United States.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 04:39-04:43
“During the previous Congress, my amendment to the National Defense Authorization act with provisions to increase transparency around…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 06:03-06:16
“Addressing US Outbound investment in China will be a great opportunity for all of my colleagues here in the House and Senate to deliver a…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 08:10-08:23
“It will be a home run for all Americans who can feel safe that American companies and investors are not helping China not only rebuild its…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 08:22-08:38
“China continues to be our greatest strategic adversary on the planet.”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 08:38-08:45
“The only party that stands to lose from this legislation will be the Chinese Communist Party, and it's high time that they be held…”
Cornyn on Outbound Investment It’s High Time China is Held Accountable | Uploaded February 25, 2025 | 08:44-08:53