An EU body in charge of dialogue with industry from third countries gave its support this week for a January proposal to bolster the bloc’s foreign direct investment screening efforts (see 2401240078).
The Treasury Department is drafting revisions to its customer due diligence (CDD) rule and hopes to “get something out this fall,” Treasury Secretary Janet Yellen said July 9.
The House Foreign Affairs Committee approved several export control and sanction bills July 10, including a resolution that would block the Bureau of Industry and Security’s new interim final rule restricting firearms exports (see 2406100048).
The Treasury Department’s new proposed rule restricting U.S. outbound investment is "narrowly targeted" and aims to address technology that could enhance China’s military, intelligence or cyber capabilities, Treasury Secretary Janet Yellen told a congressional panel July 9.
The Treasury Department is proposing to add 59 military bases across 30 states to the jurisdiction of the Committee on Foreign Investment in the U.S., a move the agency said would “vastly expand the reach” of CFIUS powers over sensitive foreign purchases of U.S. land. Treasury is also proposing to increase the scope of transactions it can examine for land purchases near eight other military bases, amend the definition of “military installation” and make other technical changes to the list of bases.
The House Foreign Affairs Committee this week plans to mark up a newly unveiled bill that would sanction foreign persons engaged in piracy.
House Speaker Mike Johnson, R-La., said July 8 that he hopes to have a "significant package of China-related legislation" signed into law this year, including measures to "punish" Chinese military firms that provide material support to Russia and Iran.
House Foreign Affairs Subcommittee on the Indo-Pacific Chairwoman Rep. Young Kim, R-Calif., and House Select Committee on China Chairman Rep. John Moolenaar, R-Mich., introduced a bill July 2 that would require the Commerce Department to identify foreign adversary entities that use high-tech American intellectual property without a license.
Rep. Bill Huizenga, R-Mich., introduced a bill last week that could strengthen sanctions against several sources of funding for Myanmar's military.
The Committee on Foreign Investment in the U.S. has approved Japanese computing chip manufacturer Renesas Electronics Corp.'s acquisition of U.S.-based electronics design firm Altium Ltd., the two companies announced July 1. The CFIUS action was the last regulatory authorization needed to complete the $5.9 billion sale, the companies said. The transaction, unveiled in February, is expected to close Aug. 1 after receiving Altium shareholder approval July 12.