Amid the ongoing trade war with China, the U.S. has enacted legislation to reform the Committee on Foreign Investment in the United States (“CFIUS”), which is the government authority tasked with reviewing proposed foreign investments into the U.S. that might endanger national security. On August 13, 2018, President Trump signed into law the Foreign Investment Risk Review Modernization Act (“FIRRMA”), doing so as part of the National Defense Authorization Act for Fiscal Year 2019 (“NDAA”). FIRRMA aims to modernize CFIUS to address the changing national security landscape.
