A U.S. Republican congressman urged the Trump administration to review millions in coronavirus stimulus loans paid to U.S. companies with ties to China's aviation and defense industries, amid deepening tensions between Beijing and Washington.
The letter by Jim Banks is addressed to Small Business Administrator Jovita Carranza and Treasury Secretary Steven Mnuchin, tasked with overseeing the Paycheck Protection Program.That program, which loans money to firms to encourage them to retain employees during the coronavirus-related shutdown, has drawn fire for technical glitches, a lack of transparency and for doling out funds to large companies with ample access to credit.
"China's activity in ... defense and aerospace, presents a direct and present threat to America's national security. These companies' entire mission is to make America less secure," Banks wrote in the letter dated Wednesday."A review of the ... loans to firms affiliated with the PLA is warranted."
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