US congressman Patrick McHenry, opponent of China investment curbs, won’t run for re-election

Name: US House Speaker Kevin McCarthy meets Taiwanese President Tsai Ing-wen, despite Beijing’s warnings
Uploaded: 2023-12-05T20:23:11.000Z
Duration: 3 min 10 s
Description: US House Speaker Kevin McCarthy meets Taiwanese President Tsai Ing-wen, despite Beijing’s warnings

McHenry has resisted efforts to require companies to notify the government before making deals in China that involve technologies with military applications

The Republican from North Carolina, who briefly served as acting US House speaker, will hold office until January 2025

3-MIN READ3-MIN

US Representative Patrick McHenry says he will not run for re-election next year. Photo: Reuters

Bochen Hanin Washington

Published: 4:23am, 6 Dec 2023Updated: 6:23am, 6 Dec 2023

US Representative Patrick McHenry, the top Republican on the House Financial Services Committee known for opposing controls on outbound investment to China, will not seek re-election, he announced on Tuesday.

McHenry’s term expires in January 2025.

The 48-year-old North Carolina Republican, who has served in Congress since 2005, stepped in as the House speaker for several weeks after a group of party hardliners pushed out Kevin McCarthy.

Last week, McHenry sent a letter to the House and Senate Armed Services committees expressing reservations on an outbound investment provision in the 2024 national defence authorisation act – an annual, must-pass bill that sets top-line funding levels for the Pentagon.

03:10

US House Speaker Kevin McCarthy meets Taiwanese President Tsai Ing-wen, despite Beijing’s warnings

The provision, in line with an August executive order from President Joe Biden, would require companies to notify the Treasury Department before making transactions in China, Russia and other “countries of concern” involving technologies with military applications. Covered sectors include advanced semiconductors, artificial intelligence, quantum information science and hypersonics.