Recent reforms to the operations of the Committee on Foreign Investment in the United States (CFIUS) removed some of the controversial elements of earlier proposed versions, but strengthened and expanded the scope of CFIUS authority to review foreign transactions and tightens the export controls process. President Donald Trump signed the Foreign Investment Risk Review Modernization Act (FIRRMA) into law August 13 after Congress passed it August 1 as part of the National Defense Authorization Act (NDAA).
President Donald Trump has decided against using much-anticipated new measures to restrict Chinese access to US technology and instead will use existing tools, according to a White House announcement this morning.
In 2013, transactions involving Chinese investors topped the list of transactions scrutinized by the Committee on Foreign Investment in the United States (CFIUS), an interagency authority tasked with reviewing commercial transactions by foreign investors for national security concerns. China had the largest number of cases reviewed from 2011 to 2013, followed by the United Kingdom, Japan, Canada, and France.