President Joe Biden on Thursday signed an executive order that administration officials say aims to sharpen the national security considerations taken in the federal government's review process for foreign investment in the United States.
It also calls on CFIUS to considerthat could stem from a transaction and stipulates that the risks to U.S. residents' sensitive data should also be considered.
Biden's executive order comes after CFIUS' oversight role of foreign investment was significantly expanded by 2018 legislation passed by Congress. Before the 2018 legislation, CFIUS investigated cases in which a foreign company’s attempt to acquire or merge with an American company could pose a national security risk. The 2018 legislation expanded CFIUS' oversight to review certain joint ventures, minority stakes and real estate deals near military bases or other sensitive national security facilities.
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