Congress is moving forward with legislation that could rewrite rules for US companies investing abroad, proposing screening of investments in countries such as China to protect US technologies and rebuilding critical supply chains. seen as opponents.
A new interagency mandated the executive branch to review and block investments on national security grounds and to disclose certain new outbound investments to American companies and investors, according to Congress, part of broader legislation to strengthen US competition with China. Authorization will be required to form the panel. Allies and a revised draft of the bill were reviewed by the Wall Street Journal on Monday.