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Scoop: anti-China funding invoice will get pro-business modifications

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A brand new model of a international funding oversight invoice championed by Sens. John Cornyn and Dianne Feinstein permits sure international locations which can be “strategic companions” of the U.S. to be exempt from assessment, in line with a supply acquainted with the negotiations.

Why it issues: The modifications present effort to alleviate issues of American firms that feared the unique invoice’s attain was too broad and would damage enterprise.

The backdrop: The laws focuses on updating The Committee on Overseas Funding within the U.S., which has been taking a extra aggressive method to proposed mergers between U.S. and Chinese language tech firms.

U.S. firms apprehensive that a number of the invoice’s authentic language was too imprecise, notably by way of what kinds of applied sciences and transactions would obtain CFIUS scrutiny.

The main points: Axios has realized can be three new modifications to the invoice.

  1. Outline phrases like “extraordinary enterprise transaction,” “related help,” and “international individual” to present the business extra certainty as to what transactions can be reviewed.
  2. Exempt critiques of transactions which can be already coated by the export management board.
  3. Embrace “strategic companions” — international locations past simply treaty allies — on a “secure listing” that exempts sure transactions from assessment.

What this implies: The modifications seem to let firms keep away from CFIUS scrutiny on transactions like abroad tools and license gross sales, however nonetheless don’t handle how CFIUS would outline “vital applied sciences” or “vital infrastructure.”

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