US investment controls will survive Trump
Significance The Trump administration has expanded powers to review inbound investments on national security grounds, in its campaign to deny China access to critical US technologies. The Committee on Foreign Investment in the United States (CFIUS) is playing a key role, as the administration seeks technological decoupling from China. Impacts CFIUS’s activity will evolve as the administration’s concepts of national security and global economic order shift. Corporations must be proactive ahead of transactions, to consider potential CFIUS implications. The United States will have to offset the loss of foreign investment with domestic R&D spending. A Biden administration would not roll back CFIUS but could redefine ‘national security’ and mitigation measures.