[Congressional Record Volume 163, Number 130 (Tuesday, August 1, 2017)]
[Senate]
[Page S4636]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                         China and North Korea

  Mr. President, finally, on the matter of China and North Korea, under 
President Trump, North Korea continues to ramp up its aggression; yet 
China has not taken any significant steps to bring to an end its 
threatening and destabilizing behavior.
  President Trump has staked his administration's approach to North 
Korea on China doing more, but right now 90 percent of North Korea's 
foreign trade is with China, and 95 percent of its foreign direct 
investment comes from China.
  Even as the U.N. Security Council and the U.S. Congress have again 
sanctioned North Korea, China's trade with this rogue nation has risen 
more than 30 percent over the past year, according to some 
reports. Even after the recent ICBM tests--clear violations of 
international resolutions--China and Russia have worked behind the 
scenes to water down and weaken additional U.N. Security Council 
sanctions resolutions.

  President Trump has talked about his ``wonderful relationship'' with 
President Xi, but this is not the behavior we should expect from a 
partner that is serious about the crisis on the Korean Peninsula.
  The bottom line is simple. China could put pressure on North Korea 
right now, but they are taking a pass, as they have for over a decade.
  President Trump began the year by offering a ``better trade deal'' to 
China if they put pressure on North Korea. That clearly hasn't 
happened. The soft-touch approach has gotten us nowhere, as usual, with 
China; they only understand strength. China continues to do the bare 
minimum as North Korea becomes more and more bellicose.
  So, today, I am urging President Trump to use his authority over the 
Committee on Foreign Investment in the United States, known as CFIUS, 
and instruct the Treasury Department to suspend the approval of mergers 
and acquisitions of U.S. assets by Chinese companies until China works 
to bridle its neighbor's aggression.
  China and its surrogates must face economic pressure if they are not 
going to help deter North Korea. This is an important tool in our 
country's toolbox, and the President ought to use it.
  I urge President Trump to take a tougher line and suspend the 
approval of all mergers and acquisitions in the United States by 
Chinese companies.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. GARDNER. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.