A partial U.S. government shutdown Oct. 1 likely would slow but not stop the work of the Committee on Foreign Investment in the U.S., Freshfields said in a client alert Sept. 30.
The Senate Banking Committee voted 13-11 along party lines Sept. 30 to approve the nomination of Christopher Pilkerton to be the Treasury Department's assistant secretary for investment security. The committee also voted 15-9 to support Jonathan Burke to be Treasury’s assistant secretary for terrorist financing. Sens. Mark Warner, D-Va., and Raphael Warnock, D-Ga., joined the panel’s Republicans in backing Burke. Both nominations now head to the full Senate for its consideration.
U.S. export controls on chips are working and should be maintained, not swapped in a trade deal as part of a “grand bargain” between the Trump administration and Beijing (see 2507150013 and 2508010002), said Rush Doshi, former National Security Council official during the Biden administration.
Sen. Catherine Cortez Masto, D-Nev., and Sen. Dave McCormick, R-Pa., introduced a bill last week to direct the Office of the U.S. Trade Representative to prioritize convincing Canada and Mexico to institute a foreign investment review board similar to the Committee on Foreign Investment in the United States, or CFIUS.
Rep. Chris Pappas, D-N.H., introduced a bill Sept. 9 that would authorize the Committee on Foreign Investment in the U.S. to review and block foreign purchases of American real estate located near critical infrastructure, including drinking water facilities.
Christopher Pilkerton, President Donald Trump’s nominee to be the Treasury Department's assistant secretary for investment security (see 2506040013), said Sept. 4 that he would aim to increase compliance with U.S. requirements for foreign investment.
The Treasury Department is making progress in its effort to document the process that the Committee on Foreign Investment in the U.S. uses to reach consensus on enforcing mitigation agreements, the Government Accountability Office said Aug. 19.
Reps. Jared Golden, D-Maine, and Greg Steube, R-Fla., introduced legislation Aug. 15 that would allow the Committee on Foreign Investment in the U.S. to block entities connected to countries of concern from investing in new and existing facilities or businesses in the U.S.
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The Trump administration's executive order last month to unwind the years-old purchase of audiovisual technology equipment supplier Jupiter Systems by China-based Suirui Group (see 2507100058) is the latest sign that the Committee on Foreign Investment in the U.S. is digging far back to find transactions that could hurt U.S. national security, ArentFox said Aug. 7 in a client alert.