We have to be vigilant because for 20, 25 years we haven't been vigilant. The leading Chinese rare earth company used to be owned by General Motors. Chinese bought it in 1995. CFIUS, which I chair, the Committee for Foreign Investment in the US mandated that it stayed in the US for five years. Guess what happened five years in one day. Went to China. Went back to China. Nobody was watching. Everyone was asleep at the switch. So we're just not going to be asleep at the switch. (26:06–26:14)
CLAIM
Asserts that CFIUS mandated the Chinese rare earth company to stay in the US for five years.
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.
