The Trump administration will broaden reviews of foreign investments in critical US technologies as it attempts to protect American knowhow from foreign powers including China.
Under the expanded regime, deals will have to be reported to the Committee on Foreign Investment in the United States where the target business is involved in the design, testing or development of critical technologies related to 27 industries including semiconductors, aircraft manufacturing and biotechnology.
The measures are part of a pilot programme that the Treasury has announced following the passage through Congress of a law cracking down on certain kinds of foreign investment. Under the new rules, Cfius will be allowed to review a broader range of transactions — even those that do not constitute the acquisition of full control of a US business.