While politicians shape U.S.-China relations, their families turn to the stock market

As U.S. politicians shape policy toward China and Taiwan, their families have been actively trading shares of foreign technology giants whose fortunes are closely tied to those same geopolitical decisions. Reporting based on Capitol Trades data highlights how spouses and children of lawmakers have bought and sold stock in companies such as Taiwan Semiconductor Manufacturing Company, Alibaba, and Tencent while lawmakers serve on committees overseeing foreign affairs, technology, and national security.

In April 2023, Rep. Michael McCaul, a Texas Republican, led a congressional delegation to Taiwan to strengthen economic and defense ties with the island. That same year, while McCaul chaired the House Committee on Foreign Affairs, his wife purchased TSMC stock valued at up to $250,000. According to federal disclosures, his family continued trading in TSMC shares throughout his tenure as chair, including during a second official visit to Taiwan in May 2024, where U.S. lawmakers met senior officials and business leaders.

Stock trading by members of Congress and their immediate families is legal but has long drawn criticism. Lawmakers often have access to sensitive, nonpublic information related to foreign policy, defense, and emerging technologies. Critics argue this creates conflicts of interest, especially as bipartisan momentum grows around proposals to ban congressional stock trading. Former House Speaker Nancy Pelosi is frequently cited in this debate, with critics pointing to her husband’s portfolio returns of more than 800% over the past decade. Pelosi has repeatedly denied any involvement in her spouse’s investment decisions.

A Rest of World analysis of Capitol Trades data shows that McCaul is not alone. Several lawmakers or their family members have disclosed trades in foreign companies while serving on committees that influence U.S.-China relations. Federal law requires members of Congress to disclose stock trades exceeding $1,000 made by themselves, their spouses, or dependent children.

Rep. Ro Khanna, a California Democrat whose district includes Silicon Valley, sits on the House Select Committee on the Chinese Communist Party. His family has traded TSMC stock since at least 2023. In February of that year, Khanna led a bipartisan delegation to Taiwan and China to rebalance economic ties, meeting TSMC founder Morris Chang during the trip. That same month, his spouse purchased between $15,000 and $50,000 in TSMC stock. Additional trades followed, including purchases by his child in August 2025 and a sale by his spouse in November.

Khanna has previously stated that he does not trade stocks himself and supports banning congressional stock trading. (The disclosures processed by our Capitol Trades team also show that Khanna’s trades are made by third parties).

McCaul’s family also made multiple large purchases of TSMC stock between 2023 and early 2024, with individual trades ranging from $50,000 to $250,000, before beginning to sell their holdings. In November 2025, McCaul raised concerns during a congressional hearing about U.S. semiconductor exports to China and has been a long-standing advocate for domestic chip manufacturing, including introducing the Chips for America Act.

An attorney for McCaul said the congressman had no involvement in the trades, noting that the assets belong solely to his wife and are managed by a third party without her direct input.

Other foreign tech firms tied to U.S.-China tensions have also appeared in lawmakers’ disclosures. Rep. Laurel Lee, a Florida Republican, reported past family holdings in Alibaba. Capitol Trades data shows her husband owned up to $250,000 worth of Alibaba stock as recently as December 2023, selling the stake shortly after a House subcommittee on which Lee serves flagged data privacy concerns involving Chinese e-commerce firms. The sale was disclosed more than a year later, well beyond the 45-day reporting deadline.

Several other members of Congress, including Reps. Sheri Biggs, Jared Moskowitz, and Josh Gottheimer, have disclosed smaller trades in TSMC, Alibaba, Tencent, or other foreign technology companies while serving on committees related to foreign affairs, financial services, or emerging technologies. None responded to requests for comment.

Capitol Trades data continues to reveal how lawmakers’ family investments intersect with U.S. foreign policy and technology oversight, intensifying calls for stricter rules on congressional stock trading as geopolitical stakes rise.