The Committee on Foreign Investment in the United States (CFIUS) is a committee of representatives of nine federal agencies tasked with reviewing investments in, or acquisitions of, U.S. companies by foreign investors for national security concerns and recommending to the President whether to block such transactions. CFIUS has traditionally lived in the shadows of the Department of Justice's and Federal Trade Commission's antitrust merger reviews, but with the rise of foreign investment in U.S. companies, particularly Chinese investment in the high-tech sector, and heightening global trade tensions, CFIUS has stepped into the limelight with a more aggressive posture, and Congress has enacted legislation to grant CFIUS new powers.

Read this chapter in Shearman & Sterling's 2019 Antitrust Annual Report, "CFIUS Reform: A New Concern for Foreign Investors."

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