David McCormick says Biden’s China, EV policies ‘squeezed’ auto workers. But he invested in Chinese EVs at Bridgewater.

Former Bridgewater CEO and probable Pennsylvania Republican Senate candidate David McCormick has criticized the Biden administration for its policies on China and electric vehicles (EVs). But he’s made significant financial investments in Chinese EV companies as the CEO of Bridgewater Associates’ hedge fund.

McCormick made an X (formerly Twitter) post in support of workers after the United Auto Workers Union announced a simultaneous strike against a General Motors plants in Wentzville, Mo., a Ford plant in Wayne, Mich. and a Jeep plant in Toledo, Ohio. Even though President Joe Biden publicly supported the workers and dispatched aides to help with negotiations, McCormick said his administration’s subsidies are hurting American workers.

Between inflation and bad Biden policies on China and EVs, our hardworking union autoworkers are being squeezed. They deserve better pay and I hope all sides can come to the table on this. (1/2)

— Dave McCormick (@DaveMcCormickPA) September 15, 2023

As recently as 2021, McCormick oversaw significant investments in Chinese EV companies worth billions of dollars. McCormick himself boasted about these investments and said that he was ultimately responsible for them as the company’s CEO.

In his post, McCormick also said that “workers deserve better,” suggesting that the Biden administration’s policies are squeezing workers. This pro-worker rhetoric is new for McCormick since he outsourced hundreds of jobs and taught other companies how to do the same in the early 2000s.

Although McCormick has not officially announced his candidacy, he is thought of as the front-runner in the 2024 U.S. Senate race in Pennsylvania. McCormick ran against Dr. Mehmet Oz in 2022 and narrowly lost to the former daytime television host in the Republican primary after the latter secured an endorsement from former President Donald Trump. Similar to Oz, McCormick’s Pennsylvania residency is questionable at best, since he recently rented a $16 million mansion in Connecticut as recently as August.

McCormick has also flip-flopped on immigration policy to presumably align with far-right Republicans on strict borders, which contrasts with his previous stance of hiring skilled immigrants.