{ "id": "RL33388", "type": "CRS Report", "typeId": "REPORTS", "number": "RL33388", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department, CRSReports.Congress.gov", "versions": [ { "source": "EveryCRSReport.com", "id": 617966, "date": "2020-02-26", "retrieved": "2020-02-26T23:00:40.698537", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). On February 13, 2020, the Department of the Treasury issued final regulations, including implementing key parts of FIRRMA concerning how investments in \u201ccritical technologies,\u201d \u201ccritical infrastructure,\u201d sensitive personal data, and certain real estate and noncontrolling investments will be scrutinized\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "9e1e51e8177d01e44253436a0e1e954aec705fc2", "filename": "files/20200226_RL33388_9e1e51e8177d01e44253436a0e1e954aec705fc2.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20200226_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20200226_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "5bab9a843abea3419277086b9b15f24c6b1c5cbf", "filename": "files/20200226_RL33388_5bab9a843abea3419277086b9b15f24c6b1c5cbf.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 617277, "date": "2020-02-14", "retrieved": "2020-02-18T14:04:35.673936", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). On February 13, 2020, the Department of the Treasury issued final regulations that implement key parts of FIRRMA concerning how certain real estate and noncontrolling investments will be scrutinized\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "122da40063e2211d9a1f8f5b32d0b8b2cf8fadbb", "filename": "files/20200214_RL33388_122da40063e2211d9a1f8f5b32d0b8b2cf8fadbb.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20200214_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20200214_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "f21d72923bf146a6f45e41dca2fa4f6b158dca5c", "filename": "files/20200214_RL33388_f21d72923bf146a6f45e41dca2fa4f6b158dca5c.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 613848, "date": "2020-01-14", "retrieved": "2020-01-22T13:59:44.172356", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). On September 17, 2019, the Department of the Treasury proposed regulations for public notice and comment to implement key parts of FIRRMA concerning how certain real estate and noncontrolling investments will be scrutinized\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "44f567fa57931aaeaf8ceef1ec48b88e65b373bb", "filename": "files/20200114_RL33388_44f567fa57931aaeaf8ceef1ec48b88e65b373bb.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20200114_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20200114_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "8c252e3f211de0235fdf59557bb211c093c9b96d", "filename": "files/20200114_RL33388_8c252e3f211de0235fdf59557bb211c093c9b96d.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 611970, "date": "2019-12-17", "retrieved": "2020-01-02T13:36:59.550159", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). On September 17, 2019, the Department of the Treasury proposed regulations for public notice and comment to implement key parts of FIRRMA concerning how certain real estate and noncontrolling investments will be scrutinized\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "8d3bd38ee3c9fc9a416773a763753642aff8d926", "filename": "files/20191217_RL33388_8d3bd38ee3c9fc9a416773a763753642aff8d926.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20191217_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20191217_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "ba832a0d1e1413f296e7a44b387bfcf406cba9d0", "filename": "files/20191217_RL33388_ba832a0d1e1413f296e7a44b387bfcf406cba9d0.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 606551, "date": "2019-10-23", "retrieved": "2019-10-23T22:15:48.859269", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). On September 17, 2019, the Department of the Treasury proposed regulations for public notice and comment to implement key parts of FIRRMA concerning how certain real estate and noncontrolling investments will be scrutinized\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "a2f7ef6477f2f871b3ac771175a6f7defa2331ca", "filename": "files/20191023_RL33388_a2f7ef6477f2f871b3ac771175a6f7defa2331ca.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20191023_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20191023_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "1fb92e8ea3d7dd2e0f6d31f87a3b1cc4df5836a3", "filename": "files/20191023_RL33388_1fb92e8ea3d7dd2e0f6d31f87a3b1cc4df5836a3.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 605846, "date": "2019-08-06", "retrieved": "2019-10-10T22:32:37.509190", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). \nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, the Committee raised concerns over Beijing Kunlun Company\u2019s investment in Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Subsequently, the Chinese firm divested itself of Grindr. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 598452, "date": "2019-05-15", "retrieved": "2019-05-20T22:09:43.522118", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA). \nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others question the nature and scope of CFIUS reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally established and supported an open and rules-based trading system that is in line with U.S. economic and national security interests. Recent debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises, and acquisitions involving leading-edge or foundational technologies. Recent changes expand CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. \nChanges in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, six investments have been blocked, although proposed transactions may have been withdrawn by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a Department of Defense (DOD) facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom; and in 2019, he directed Beijing Kunlun Co. to divest itself of Grindr LLC, an online dating site, over concerns of foreign access to personally identifiable information of U.S. citizens. Given the number of regulatory changes mandated by FIRRMA, Congress may well conduct oversight hearings to determine the status of the changes and their implications.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "ebc18e17a2ab75bfb8de837a21ee4453ac2ea724", "filename": "files/20190515_RL33388_ebc18e17a2ab75bfb8de837a21ee4453ac2ea724.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20190515_RL33388_images_494e84663aad30c837f9e6f1e520f11cef099bed.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20190515_RL33388_images_5eed6306da7ec530958171d0246a23e10b13f33a.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "5356a089a855b73a14a9b9f3e8c0b621a7ca1b82", "filename": "files/20190515_RL33388_5356a089a855b73a14a9b9f3e8c0b621a7ca1b82.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 584164, "date": "2018-07-03", "retrieved": "2019-04-18T14:08:27.870749", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, the House and Senate adopted measures that would mark the most comprehensive reform of CFIUS since FINSA in 2007 (S. 2987/H.R. 5515), the Foreign Investment Risk Review Modernization Act of 2017). \nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, five investments have been blocked, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RL33388", "sha1": "ad360b9abeb1b10905a43b1ff26fc2883df527ac", "filename": "files/20180703_RL33388_ad360b9abeb1b10905a43b1ff26fc2883df527ac.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180703_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180703_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RL33388", "sha1": "4f66015935e4053b97572a4dc935a24301b4d744", "filename": "files/20180703_RL33388_4f66015935e4053b97572a4dc935a24301b4d744.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 582359, "date": "2018-06-27", "retrieved": "2018-06-29T13:44:20.068018", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, the House and Senate adopted measures that would mark the most comprehensive reform of CFIUS since FINSA in 2007 (S. 2098/H.R. 5841, the Foreign Investment Risk Review Modernization Act of 2017). \nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only five investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "c8151409dbd91299309eeb2a1487a370bdac5d41", "filename": "files/20180627_RL33388_c8151409dbd91299309eeb2a1487a370bdac5d41.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180627_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180627_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "ebb90f1e0c8328a7844028a8a4f14980a11857a5", "filename": "files/20180627_RL33388_ebb90f1e0c8328a7844028a8a4f14980a11857a5.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 582146, "date": "2018-06-19", "retrieved": "2018-06-20T22:12:12.489862", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, various measures have been introduced that could have broad implications for CFIUS\u2019s operations and activities.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only five investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "3d8b37f2a3f36363264718411fbce01f00fa2378", "filename": "files/20180619_RL33388_3d8b37f2a3f36363264718411fbce01f00fa2378.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180619_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180619_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "034bbdb9b07b40ceae88b98fc36e010dad4ba066", "filename": "files/20180619_RL33388_034bbdb9b07b40ceae88b98fc36e010dad4ba066.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 582016, "date": "2018-06-14", "retrieved": "2018-06-19T13:18:40.219278", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, various measures have been introduced that could have broad implications for CFIUS\u2019s operations and activities.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only five investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "7ed553d12d6f2728504d0373aca7ae64f18165f5", "filename": "files/20180614_RL33388_7ed553d12d6f2728504d0373aca7ae64f18165f5.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180614_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180614_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "44087a5c9da2bde9a15d9680acb7be5479bc888a", "filename": "files/20180614_RL33388_44087a5c9da2bde9a15d9680acb7be5479bc888a.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 579749, "date": "2018-03-13", "retrieved": "2018-05-10T11:07:24.759635", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, various measures have been introduced that could have broad implications for CFIUS\u2019s operations and activities.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only five investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners; in 2018, he blocked the acquisition of Qualcomm by Broadcom.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "7bdfbd5cbe881ba0874a63d0fe7f83327c7ba13a", "filename": "files/20180313_RL33388_7bdfbd5cbe881ba0874a63d0fe7f83327c7ba13a.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180313_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180313_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "e0e774c91aa03f2129a764a85cb8454d8f78ade8", "filename": "files/20180313_RL33388_e0e774c91aa03f2129a764a85cb8454d8f78ade8.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 577626, "date": "2018-01-16", "retrieved": "2018-01-16T23:06:28.481911", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, various measures have been introduced that could have broad implications for CFIUS\u2019s operations and activities.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only four investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "3bbc70c69f2b580d0589a3a8007b784780c5d095", "filename": "files/20180116_RL33388_3bbc70c69f2b580d0589a3a8007b784780c5d095.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20180116_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20180116_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "5f1c5d907c7557283ad04d39e92659752d02b64f", "filename": "files/20180116_RL33388_5f1c5d907c7557283ad04d39e92659752d02b64f.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 574058, "date": "2017-10-11", "retrieved": "2017-10-17T14:18:58.192170", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, legislation has been introduced to include the Secretaries of Agriculture and Health and Human Services as permanent members of CFIUS and for other purposes.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only four investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "520b031a4a798688e7341c39335fb55c23d56436", "filename": "files/20171011_RL33388_520b031a4a798688e7341c39335fb55c23d56436.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20171011_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20171011_RL33388_images_15998cd4d6d62a50ad080ecafc9879d253721c87.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "2de6d04bc54887876cab85d22a696077970e2789", "filename": "files/20171011_RL33388_2de6d04bc54887876cab85d22a696077970e2789.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 461978, "date": "2017-06-13", "retrieved": "2017-08-22T14:21:56.514513", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation\u2019s national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS\u2019s review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, legislation has been introduced to include the Secretaries of Agriculture and Health and Human Services as permanent members of CFIUS and for other purposes.\nGenerally, efforts to amend CFIUS have been spurred by a specific foreign investment transaction that raised national security concerns. Despite various changes to the CFIUS statute, some Members and others are questioning the nature and scope of CFIUS\u2019s reviews. The CFIUS process is governed by statute that sets a legal standard for the President to suspend or block a transaction if no other laws apply and if there is \u201ccredible evidence\u201d that the transaction threatens to impair the national security, which is interpreted as transactions that pose a national security risk. \nThe U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. Some Members question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investment on certain sectors of the economy or by investors from individual countries. Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only three investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "f2e4e8e22b6e35a92a3a10177984d8c3e722ebeb", "filename": "files/20170613_RL33388_f2e4e8e22b6e35a92a3a10177984d8c3e722ebeb.html", "images": { "/products/Getimages/?directory=RL/html/RL33388_files&id=/1.png": "files/20170613_RL33388_images_c9357a8544f8b26bd2d60afc396d97b63a5f9e0e.png", "/products/Getimages/?directory=RL/html/RL33388_files&id=/0.png": "files/20170613_RL33388_images_4d87d10bdd141822233e3173150cbb34e28ac060.png" } }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "f6819666fe23799257648052805531e582979098", "filename": "files/20170613_RL33388_f6819666fe23799257648052805531e582979098.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 460271, "date": "2017-04-06", "retrieved": "2017-04-07T15:30:45.513250", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is comprised of nine members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal executive branch. While the group generally has operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed the group\u2019s operations under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of the 109th and 110th Congresses questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy. Some Members of Congress and others argued that the nation\u2019s security and economic concerns had changed following the September 11, 2001, terrorist attacks and that those concerns were not being reflected sufficiently in the Committee\u2019s deliberations. In addition, anecdotal evidence seemed to indicate that the CFIUS process was not market neutral. Instead, a CFIUS investigation of an investment transaction may have been perceived by some firms and by some in the financial markets as a negative factor that added to uncertainty and may have spurred firms to engage in behavior that may not have been optimal for the economy as a whole. On March 14, 2017, Senator Charles Grassley introduced S. 616 to include the Secretary of Agriculture and the Secretary of Health and Human Services as permanent members of the CFIUS and to include the national security impact of foreign investments in the food and agriculture systems as part of the criteria the Committee uses in deciding to recommend that the President block a foreign acquisition.\nIn the first session of the 110th Congress, the House and Senate adopted S. 1610, the Foreign Investment and National Security Act (FINSA) of 2007. On July 11, 2007, the measure was sent to President Bush, who signed it on July 26, 2007. It is designated as P.L. 110-49. On January 23, 2008, President Bush issued Executive Order 13456 implementing the law. Despite the changes made to CFIUS by P.L. 110-49, some Members of Congress continue to question CFIUS\u2019s performance and the way the Committee reviews cases involving foreign governments, particularly with the emergence of direct investments through sovereign wealth funds (SWFs) and state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investments on certain sectors or by investors from individual countries. The Obama Administration issued a statement on June 30, 2011, supporting an open investment policy, a commitment to treat all investors in a fair and equitable manner, and support for business investment from sources both home and abroad in the economy. President Obama used the authority granted to him under FINSA to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm and to block a Chinese investment firm from acquiring Aixtron, a German-based firm with assets in the United States. On October 31, 2013, the Obama Administration launched a new initiative, known as Select USA, to attract more foreign direct investment to the United States. According to the Administration, the aim of the program is to make attracting foreign investment as important a component of U.S. foreign policy as promoting exports.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "b5347e9872d4408e83adbddd65eb9be079d03971", "filename": "files/20170406_RL33388_b5347e9872d4408e83adbddd65eb9be079d03971.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "6a391271a4426cd3d3133698626ebf0aeeca8479", "filename": "files/20170406_RL33388_6a391271a4426cd3d3133698626ebf0aeeca8479.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 460127, "date": "2017-03-31", "retrieved": "2017-03-31T18:53:20.433898", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is comprised of nine members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal executive branch. While the group generally has operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed the group\u2019s operations under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of the 109th and 110th Congresses questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy. Some Members of Congress and others argued that the nation\u2019s security and economic concerns had changed following the September 11, 2001, terrorist attacks and that those concerns were not being reflected sufficiently in the Committee\u2019s deliberations. In addition, anecdotal evidence seemed to indicate that the CFIUS process was not market neutral. Instead, a CFIUS investigation of an investment transaction may have been perceived by some firms and by some in the financial markets as a negative factor that added to uncertainty and may have spurred firms to engage in behavior that may not have been optimal for the economy as a whole. On March 14, 2017, Senator Charles Grassley introduced S. 616 to include the Secretary of Agriculture and the Secretary of Health and Human Services as permanent members of the CFIUS and to include the national security impact of foreign investments in the food and agriculture systems as part of the criteria the Committee uses in deciding to recommend that the President block a foreign acquisition.\nIn the first session of the 110th Congress, the House and Senate adopted S. 1610, the Foreign Investment and National Security Act (FINSA) of 2007. On July 11, 2007, the measure was sent to President Bush, who signed it on July 26, 2007. It is designated as P.L. 110-49. On January 23, 2008, President Bush issued Executive Order 13456 implementing the law. Despite the passage of the amendments, some Members of Congress and others question the performance of CFIUS and the way the Committee reviews cases involving foreign governments, particularly with the emergence of direct investments through sovereign wealth funds (SWFs) and state-owned enterprises. Some policymakers have suggested expanding CFIUS\u2019s purview to include a broader focus on the economic implications of individual foreign investment transactions and the cumulative effect of foreign investments on certain sectors or by investors from individual countries. The Obama Administration issued a statement on June 30, 2011, supporting an open investment policy, a commitment to treat all investors in a fair and equitable manner, and support for business investment from sources both home and abroad in the economy. President Obama used the authority granted to him under FINSA to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm and to block a Chinese investment firm from acquiring Aixtron, a German-based firm with assets in the United States. On October 31, 2013, the Obama Administration launched a new initiative, known as Select USA, to attract more foreign direct investment to the United States. According to the Administration, the aim of the program is to make attracting foreign investment as important a component of U.S. foreign policy as promoting exports.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "52f94256e515ef486ade8472e00e5115c456e0e4", "filename": "files/20170331_RL33388_52f94256e515ef486ade8472e00e5115c456e0e4.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "8898467628f6730299c5f26315955a1d830a71c9", "filename": "files/20170331_RL33388_8898467628f6730299c5f26315955a1d830a71c9.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4764, "name": "Foreign Investment" }, { "source": "IBCList", "id": 4911, "name": "East Asia & Pacific" } ] }, { "source": "EveryCRSReport.com", "id": 455341, "date": "2016-08-12", "retrieved": "2016-09-09T18:41:30.383424", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is comprised of nine members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal executive branch. While the group generally has operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed the group\u2019s operations under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of the 109th and 110th Congresses questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy. Some Members of Congress and others argued that the nation\u2019s security and economic concerns have changed since the September 11, 2001, terrorist attacks and that these concerns were not being reflected sufficiently in the Committee\u2019s deliberations. In addition, anecdotal evidence seemed to indicate that the CFIUS process was not market neutral. Instead, a CFIUS investigation of an investment transaction may have been perceived by some firms and by some in the financial markets as a negative factor that added to uncertainty and may have spurred firms to engage in behavior that may not have been optimal for the economy as a whole. On July 12, 2016, Senator Charles Grassley introduced S. 3161 to include the Secretary of Agriculture as a permanent member of the CFIUS and to include the national security impact of foreign investments on agricultural assets as part of the criteria the Committee uses in deciding to recommend that the President block a foreign acquisition.\nIn the first session of the 110th Congress, the House and Senate adopted S. 1610, the Foreign Investment and National Security Act (FINSA) of 2007. On July 11, 2007, the measure was sent to President Bush, who signed it on July 26, 2007. It is designated as P.L. 110-49. On January 23, 2008, President Bush issued Executive Order 13456 implementing the law. The Executive Order also established some caveats that may affect the way in which the law is implemented. These caveats stipulate that the President will provide information that is required under the law as long as it is \u201cconsistent\u201d with the President\u2019s authority \u201cto (i) conduct the foreign affairs of the United States; (ii) withhold information the disclosure of which could impair the foreign relations, the national security, the deliberative processes of the Executive, or the performance of the Executive\u2019s constitutional duties; (iii) recommend for congressional consideration such measures as the President may judge necessary and expedient; and (iv) supervise the unitary executive branch.\u201d Despite the relatively recent passage of the amendments, some Members of Congress and others have questioned the performance of CFIUS and the way the Committee reviews cases involving foreign governments, particularly with the emergence of direct investments through sovereign wealth funds (SWFs). The Obama Administration issued a statement on June 30, 2011, supporting an open investment policy, a commitment to treat all investors in a fair and equitable manner, and support for business investment from sources both home and abroad in the economy. On September 28, 2012, President Obama used the authority granted to him under FINSA to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm. On October 31, 2013, the Obama Administration launched a new initiative, known as Select USA, to attract more foreign direct investment to the United States. According to the Administration, the aim of the program is to make attracting foreign investment as important a component of U.S. foreign policy as promoting exports.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RL33388", "sha1": "5dd13e447d56c747b6bd4b5795059fbfa8155626", "filename": "files/20160812_RL33388_5dd13e447d56c747b6bd4b5795059fbfa8155626.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RL33388", "sha1": "cab3da3a7e453ce10072ec9b7266ccbc21b1e7f6", "filename": "files/20160812_RL33388_cab3da3a7e453ce10072ec9b7266ccbc21b1e7f6.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2586, "name": "Foreign Investment and Outsourcing" }, { "source": "IBCList", "id": 278, "name": "China, Taiwan, and Mongolia" } ] }, { "source": "EveryCRSReport.com", "id": 449979, "date": "2016-02-19", "retrieved": "2016-04-06T17:07:28.878744", "title": "The Committee on Foreign Investment in the United States (CFIUS)", "summary": "The Committee on Foreign Investment in the United States (CFIUS) is comprised of nine members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal executive branch. While the group generally has operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed the group\u2019s operations under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of the 109th and 110th Congresses questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS\u2019s operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy. Some Members of Congress and others argued that the nation\u2019s security and economic concerns have changed since the September 11, 2001, terrorist attacks and that these concerns were not being reflected sufficiently in the Committee\u2019s deliberations. In addition, anecdotal evidence seemed to indicate that the CFIUS process was not market neutral. Instead, a CFIUS investigation of an investment transaction may have been perceived by some firms and by some in the financial markets as a negative factor that added to uncertainty and may have spurred firms to engage in behavior that may not have been optimal for the economy as a whole. In the 112th Congress, some Members expressed their concerns to the Obama Administration over the national security implications of a proposed acquisition of a U.S. technology company by the Chinese-owned Huawei Technologies.\nIn the first session of the 110th Congress, the House and Senate adopted S. 1610, the Foreign Investment and National Security Act (FINSA) of 2007. On July 11, 2007, the measure was sent to President Bush, who signed it on July 26, 2007. It is designated as P.L. 110-49. On January 23, 2008, President Bush issued Executive Order 13456 implementing the law. The Executive Order also established some caveats that may affect the way in which the law is implemented. These caveats stipulate that the President will provide information that is required under the law as long as it is \u201cconsistent\u201d with the President\u2019s authority \u201cto (i) conduct the foreign affairs of the United States; (ii) withhold information the disclosure of which could impair the foreign relations, the national security, the deliberative processes of the Executive, or the performance of the Executive\u2019s constitutional duties; (iii) recommend for congressional consideration such measures as the President may judge necessary and expedient; and (iv) supervise the unitary executive branch.\u201d Despite the relatively recent passage of the amendments, some Members of Congress and others have questioned the performance of CFIUS and the way the Committee reviews cases involving foreign governments, particularly with the emergence of direct investments through sovereign wealth funds (SWFs). The Obama Administration issued a statement on June 30, 2011, supporting an open investment policy, a commitment to treat all investors in a fair and equitable manner, and support for business investment from sources both home and abroad in the economy. On September 28, 2012, President Obama used the authority granted to him under FINSA to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm. On October 31, 2013, the Obama Administration launched a new initiative, known as Select USA, to attract more foreign direct investment to the United States. 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