The Committee on Foreign Investment in the United States (CRS In Focus IF10177)

The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee chaired by the Secretary of the Treasury. It serves the President in overseeing the national security risks of certain foreign direct investment (FDI) in the U.S. economy. CFIUS jurisdiction includes the review of mergers, acquisitions, and takeovers that could result in foreign control of a U.S. business; certain noncontrolling investments in businesses involved in critical technologies, critical infrastructure, or sensitive personal data (so-called “TID U.S. businesses”); and certain real estate transactions. At the recommendation of CFIUS, the President may suspend or prohibit transactions that threaten to impair U.S. national security. For additional background, see CRS Report RL33388, The Committee on Foreign Investment in the United States (CFIUS).

The United States is the world’s largest foreign investor and recipient of foreign investment. U.S. policy supports a rules-based and open investment environment domestically and globally to promote U.S. economic growth and ensure that the United States remains a premier FDI destination. The Biden Administration has stated that it will retain an open U.S. investment posture, while ensuring the CFIUS review process “remains responsive to an evolving national security landscape and the nature of the investments that pose related risks.” Congressional and stakeholder debate over CFIUS activities has intensified amid growing concern that certain foreign investments by firms directed, controlled, or funded by a foreign government, notably the People’s Republic of China (PRC), raise additional national security risks. These debates involve oversight of CFIUS reforms mandated by Congress in 2018. The 118th Congress is considering various legislation to address perceived jurisdiction gaps and evolving priorities.

The Committee on Foreign Investment in the United States,” CRS In Focus IF10177, August 3, 2023 (5-page PDF)

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