House Foreign Affairs Committee Vice Chair Castro Says Huawei Poses a National Security Threat
*By Justin Chermol*
The newly appointed vice chairman of the House Foreign Affairs Committee, Rep. Joaquin Castro (D-Tex.), said he is "absolutely" concerned that Chinese telecommunication giant Huawei poses a threat to national security in an interview on Cheddar Tuesday.
"I do have that concern," Castro told Cheddar's J.D. Durkin. He noted that he helped push a bipartisan amendment to the National Defense Authorization Act last year to prevent government grants or loans being used to pay for Huawei services.
The Department of Justice unsealed two separate indictments on Monday against the company and its CFO Meng Wanzhou, who was arrested in December. The cases claim the company and its leaders attempted to steal trade secrets from rival T-Mobile, promised bonuses to employees in exchange for intel on competitors, and sought to evade U.S. sanctions on Iran.
"With China, our overarching strategy has to be to respect them when they compete, but also to stop them when they cheat," he said.
Castro is particularly disturbed by prospect of Huawei lifting T-Mobile's technology for its own gain.
"What you see with China is the outright theft of trade secrets and technology and then taking that technology, in this case from T-Mobile, and using it for the benefit of Chinese companies without ever doing any of the innovation or the hard work ー or spending the money in terms of research or development to understand it themselves," he said.
The indictments may coincide with trade talks between the U.S. and Chinese officials, but Castro said that the meetings scheduled for Wednesday and Thursday are unrelated to the charges leveled against Huawei.
"We should be able to separate out some sort of cheating or malfeasance from what we do in terms of talking about trade," he said.
For full interview [click here](https://cheddar.com/videos/rep-joaquin-castro-talks-mueller-probe-huawei-charges-and-more).
Pfizer has asked the FDA to expand authorization of COVID booster shots for all adults. The agency is expected to grant the request in the coming weeks, allowing vaccinated Americans as young as 18 to get boosted before the holidays. Dr. Bayo Curry-Winchell, Regional Clinical Director at Carbon Health, joined Cheddar to discuss.
The Justice Department has filed a lawsuit to block Penguin Random House from acquiring its rival Simon & Schuster. The DOJ hopes this will block the merger, which it says would ultimately hurt authors and consumers nationwide. Barry C. Lynn, executive director of the Open Markets Institute, joined Cheddar to explain what the lawsuit signals about the Biden administration's approach to cracking down on antitrust, and why Amazon might be next.
The major markets took a breather Tuesday, with the Dow, S&P, Nasdaq, and Russell 2000 all finishing lower after notching record closes on Monday. Rhys Williams, Chief Strategist at Spouting Rock Asset Management, joins Cheddar News' Closing Bell, where he provides his biggest takeaways from the day's activity.
The U.S. economy added 531,000 jobs in the month of October, painting a better picture of the economy that analysts had expected. Jared Bernstein, Council of Economic Advisers Member for President Biden joined Cheddar's Opening Bell to discuss.
Election Day 2021 is in the books, and it wasn't a pretty picture for Democrats. Governor Phil Murphy narrowly won re-election in New Jersey and Republican Glenn Youngkin upset Democrat Terry McAuliffe in Virginia, with many other disappointing losses for the left. Meridith McGraw, national correspondent for Politico, breaks down the key takeaways from this year as the nation looks ahead to the 2022 midterms.
Markets opened higher to kick off the week as investors continue to digest the better-than-expected jobs report, which showed 531,000 new jobs created in October. Ken Johnson, CFA, Investment Strategy Analyst joined Cheddar's Opening Bell to break down his early market insights.
Almost 2 years into the pandemic, supply chain woes continue to wreak havoc on our everyday lives.
From groceries to chip shortages, both consumers and retailers are feeling the strain with prices only climbing as a result. Data intelligence company Morning Consult is out with its U.S. Economic Outlook for November revealing just how much of a threat these hold-ups could pose to the greater economic recovery. John Leer, Chief Economist at Morning Consult joined Cheddar's Opening Bell.
After many years and at least two presidents hoping to overhaul America's infrastructure, congress finally came to an agreement. The House passed the bipartisan infrastructure bill late Friday, receiving thirteen republican votes but failing to earn votes from the six progressive squad members. Joseph Zeballos-Roig, Economics Reporter at Insider joined Cheddar's Opening Bell to discuss the economic impact of the bill.