The Treasury Department’s lead official for the Committee on the Foreign Investment in the U.S. expects the committee to continue much of its existing efforts under the incoming Trump administration, including by prioritizing enforcement and compliance with mitigation agreements.

Foreign investors are increasingly incorporating the regulatory requirements of the Committee on Foreign Investment in the U.S. into the due diligence they conduct for U.S. transactions, a trade lawyer said in an interview.

The Treasury Department issued a correction last week to fix a wrong date in its recently published final rule that will add 59 military bases to the jurisdiction of the Committee on Foreign Investment in the U.S. on Dec. 9 (see 2411070001). Treasury had written that the final rule was published in the Federal Register on Nov. 8, and it corrected that date to reflect the actual publication date of Nov. 7.

The Treasury Department published a final rule in the Federal Register that will add 59 military bases to the jurisdiction of the Committee on Foreign Investment in the U.S., setting the effective date for Dec. 9. The rule, released earlier this month, also will increase the scope of transactions CFIUS can examine for land purchases near eight other military bases, amend the definition for “military installation” and make other changes (see 2411040017 and 2407090003).

The Treasury Department is scheduled to publish a final rule in the Federal Register Nov. 15 outlining new prohibitions and notification requirements for U.S. outbound investments in China’s semiconductor, artificial intelligence and quantum sectors. The agency released the rule in prepublication form in October (see 2410280043). It takes effect Jan. 2.

The Treasury Department sent the final version of its outbound investment regulations for interagency review on Oct. 18, one of the final steps before the new rules are published. The regulations will set new prohibitions and notification requirements on U.S. investments in China, Hong Kong and Macau (see 2406210034, 2408050038, 2410170016 and 2410110036).

With the United States and the EU both preparing to increase their scrutiny of outbound investment, the two parties should closely coordinate their efforts to achieve the best possible outcome, a Germany-based researcher said Oct. 22.

Japan’s Nippon Steel Corp., which is seeking to buy U.S. Steel, plans to refile its request for the Committee on Foreign Investment in the U.S. to review the deal, a move that will give CFIUS more time to complete its work, a person familiar with the situation said Sept. 18.

President Joe Biden is planning to block Japan-based Nippon Steel’s acquisition of U.S. Steel, a deal that has been under review by the Committee on Foreign Investment in the U.S., according to multiple reports. CFIUS appears to have concluded that national security concerns raised by the acquisition couldn’t be mitigated, the Washington Post reported Sept. 4. The White House has declined to comment but in a statement told the Post that CFIUS “had not yet transmitted its recommendation to the president,” the report said. Biden and multiple U.S. lawmakers have voiced opposition to the deal (see 2403150066 and 2405100026).

At least 22 states recently have approved legislation regulating foreign ownership of U.S. land, reflecting growing interest in addressing the potential national security and economic implications of such investments, the Congressional Research Service said in a new report this week.