Chuck Schumer: “I know we have agreement to accept this amendment, so I will not speak for very long. I know people want to vote on…”

“I know we have agreement to accept this amendment, so I will not speak for very long. I know people want to vote on final passage. Two quick points: This amendment does not block or change in any way the CNOOC-Unocal merger. It simply says, after any merger where a corporation that is owned by a foreign government seeks to buy an American company, that our Government, particularly MFTEC in the Treasury Department, issue a report that shows whether that country is treating our companies reciprocally and fairly. In other words, would an American company that wished to buy a Chinese company in a similar position be allowed to do so? I would argue that the Chinese do not. If you believe in free trade, it has to be a two-way street. This amendment at least gives us a report and some knowledge of that condition. That is all I am asking. With that, I yield the floor to the Senator from Kentucky. The PRESIDING OFFICER. The Senator from Kentucky. Mr. REED addressed the Chair. The PRESIDING OFFICER. The Senator from Rhode Island. Liability Protections To The Gun Industry”