Americans for Limited Government President Rick Manning told hosts Matthew Boyle and Amanda House on Breitbart News Daily on Tuesday that if President Donald Trump were to approve Broadcom’ hostile takeover of Qualcomm, the “Chinese would have controlled everything we do on the Internet.”
Rick Manning discussed President Trump’s order blocking Broadcom, a foreign technology company with strong ties to China, from attempting to purchase Qualcomm, arguing that the deal was a threat to America’s national security.
The president acted on the recommendation of the Committee on Foreign Investment in the U.S. (CFIUS); CFIUS reviews foreign acquisitions of American companies and can recommend to the president that he block the purchase on national security concerns. Treasury Secretary Steve Mnuchin heads CFIUS.
Mnuchin argued that the decision was due to the president’s “commitment to take all actions necessary to protect the national security of the United States.”
Manning suggested that Qualcomm has “patents and technology and other things that are vital to our national interests that they own. Broadcom is attempting a hostile takeover to get that intellectual property.”
As we move over to a 5G world, this is the essentially the Internet of Things (IOT) revolution that’s going to happen, the question is who’s going to dominate that industry, it’s either going to be Qualcomm or a Chinese company called Huawei. If the hostile takeover were to be allowed to occur the Chinese would have controlled every thing we do on the Internet on the outocoming years.
“They would be able to turn a switch and then change our electrical grid,” Manning added.
Boyle remarked, “This is one of the greatest untold stories of his presidency, the use of CFIUS to block China in their efforts to get into the United States.”
The Americans for Limited Government president then suggested that this recent decision serves a significant turning point for CFIUS.
“CFIUS in the past, Matt, has been very reluctant to intervene, and it’s groundbreaking,” Manning explained. “They [Broadcom] were attempting to buy all of the intellectual property that drives everything in the world.”
Manning then continued, explaining to the Breitbart News Daily hosts that China has a game plan to dominate global industry.
“It’s to take industry by industry in the United States, and around the world, and create a dependancy, where we, and the rest of the world, cannot compete,” Manning argued.
Manning also cited China’s dominance in the rare earth metals industry as well as the middle kingdom’s dumping of steel and aluminum in the United States and other countries.
Congressman Lou Barletta (R-PA), who is running for the U.S. Senate seat in Pennsylvania, told Breitbart News in an exclusive interview how America can exploit its anthracite coal resources to compete against China in the rare earth metal industry.
Manning then told Breitbart News Daily why America needs a vibrant domestic steel industry for national security concerns:
If we do not have the capacity to produce high-grade steel for our basic needs, for the basic infratructure needs we have in this country, we’re dead, we’re dead. President Trump knows that we only have one plant that makes high-grade steel, one plant that makes high-grade aluminum necessary for military applications. President Trump says that they’re being delibarately undercut in a war with China by undercutting markets and making it so that those plants cannot survive.
“He’s probably the first president since Ronald Reagan who gets that we’re in an international competition,” Manning added.
Breitbart News Daily airs on SiriusXM Patriot 125 from 6 a.m. to 9 a.m. Eastern.