It also calls on CFIUS to considerthat could stem from a transaction and stipulates that the risks to U.S. residents' sensitive data should also be considered.
“President Biden’s executive order highlights CFIUS’s increasing attention to national security risks in several key areas and sharpens the committee’s focus on protecting America’s national security, while maintaining the U.S. open investment policy,” Treasury Secretary Janet Yellen said in a statement. “Strengthening our supply chains and protecting against foreign threats enhances our national security, and this executive order highlights CFIUS’s important role in that work.
Biden's executive order comes after CFIUS' oversight role of foreign investment was significantly expanded by 2018 legislation passed by Congress.CFIUS already has been considering many of the criteria laid out in Biden's executive order, according to senior administration officials, who briefed reporters on the condition of anonymity under ground rules set by the White House.
Before the 2018 legislation, CFIUS investigated cases in which a foreign company’s attempt to acquire or merge with an American company could pose a national security risk. The 2018 legislation expanded CFIUS' oversight to review certain joint ventures, minority stakes and real estate deals near military bases or other sensitive national security facilities.
The legislation was prompted by complaints Chinese companies were taking advantage of gaps in U.S. law and improperly obtaining technology and possibly sensitive information. U.S. lawmakers also have expressed concern that Chinese companies were using joint ventures with foreign companies or minority stakes in ventures to gain access to sensitive technology.released in August showed Chinese investors more than doubled the number of applications they filed in 2021 seeking U.S.
Omg. He is investigating his own son. Wow
for me, i am happy to have a president who does things people in government are expected to do. doesn't tweet--although he is on twitter--all the time or throw out his shoulder patting himself on the back