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U.S. Treasury Seeks to Strengthen Government Committee's Power to Review Deals with Foreign Investors

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U.S. Treasury,Government Committee,Review Deals

The U.S. Treasury is pushing for increased authority for the Committee on Foreign Investment in the United States (CFIUS) to scrutinize and regulate deals between American companies and foreign investors. This move comes as high-profile transactions, such as ByteDance's ownership of TikTok and Nippon Steel's bid for U.S. Steel Corp., face growing scrutiny from lawmakers and President Joe Biden.

WASHINGTON — U.S. Treasury wants to enhance the power of a little-known, secretive government committee to review deals made between U.S. firms and foreign investors.

John Carlin, the former Justice Department national security chief and a partner at the Paul Weiss law firm, said the proposed rule shows how “corporations are on the front lines of national security policy and how seriously the government is taking foreign investments." J. Philip Ludvigson, a partner at the law firm King & Spalding, said the proposed regulations “are yet another indicator of an increasingly aggressive posture in protecting national security." Ludvigson is a former director for CFIUS Monitoring & Enforcement.

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