Biden order to sharpen foreign investment screening process
President Joe Biden is set to sign an executive order that aims to sharpen the national security considerations taken in the federal government’s review process for foreign investment in the United States
WASHINGTON (AP) — President Joe Biden on Thursday will sign 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.
The committee, known as CFIUS, is made up of members of the departments of State, Defense, Justice, Commerce, Energy and Homeland Security and is led by the Treasury secretary. It sends its findings and a recommendation to the president, who has the power to suspend or prohibit a deal.
While the White House said the new order is not targeted toward any particular country, it comes amid growing concern among U.S. officials about China's investments in the U.S. technology sector and other industries.
