Reuters: Chinese Firm Hires Trump-Linked Lobbying Firm to Avoid US Regulatory Scrutiny
NQ Score
100/100
AI Summary (NQ-processed)
A Chinese pharmaceutical group, Grand Pharmaceutical Group, hired Checkmate, a lobbying firm connected to Donald Trump Jr., to navigate a US regulatory review of its $12 million investment in US startup FastWave. FastWave, which produces laser catheters, sought CFIUS review due to national security concerns and a partnership between Grand Pharmaceutical and a Chinese competitor. CFIUS ultimately rejected FastWave's application for a national security review, siding with Grand Pharmaceutical.
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Frequently Asked Questions
- Q: Which startup sought to divest its Chinese investor?
- A: FastWave, a Minnesota-based startup, sought to divest its Chinese investor, Grand Pharmaceutical Group.
- Q: How much money did FastWave receive from Grand Pharmaceutical in 2021?
- A: FastWave received a twelve million dollar investment from Grand Pharmaceutical in 2021.
- Q: What organization rejected FastWave's application for a national security review?
- A: The Committee on Foreign Investment in the United States rejected FastWave's application.
- Q: Who leads the lobbying firm Checkmate hired by Grand Pharmaceutical Group?
- A: Checkmate is led by hunting friends of Donald Trump Jr., the son of former US President Donald Trump.
- Q: When did CFIUS reject FastWave's review application according to the documents?
- A: The documents show that CFIUS rejected FastWave's review application at the end of January.