China-based Borqs Technologies said it completed its divestment of Hawaii-based energy storage system company Holu Hou Energy (HHE) about two years after the Committee on Foreign Investment in the U.S. ordered it to do so.

A "snapshot" report just released by the Government Accountability Office reminded Congress that the GAO has studied -- and made recommendations -- on many aspects of how to manage economic competition with China, including providing more resources to the Committee on Foreign Investment in the United States, improving information sharing with companies to keep more counterfeits out of U.S. commerce, and improving the tariff exclusions process for steel and aluminum imports.

President Joe Biden signed into law April 24 a wide-ranging national security bill that will, among other things, ban TikTok in the U.S. if China’s ByteDance doesn't sell the popular social media application to an entity that isn’t controlled by a foreign adversary (see 2404220041 and 2404180020).

The Committee on Foreign Investment in the U.S. should document its processes for reaching consensus on enforcement actions and determining whether to terminate outdated mitigation agreements, the Government Accountability Office said April 18.

U.S. Steel Corp. stockholders April 12 approved the proposed acquisition of the company by Japan-based Nippon Steel Corp., brushing aside White House and congressional opposition to the $14.9 billion deal.

The Treasury Department is accepting public comments until May 15 on a proposed rule that could allow the Committee on Foreign Investment in the U.S. to impose higher max penalties for certain violations, collect a broader range of information from parties involved in non-notified transactions, give the committee broader subpoena abilities, expand the circumstances in which it may fine a company, and more.

Japan-based Nippon Steel Corp. indicated in a statement March 15 that it has no plans to cancel its proposed acquisition of U.S. Steel Corp. despite President Joe Biden’s newly announced opposition to the $14.9 billion deal (see 2403140049).

President Joe Biden announced March 14 that he plans to oppose the proposed acquisition of U.S. Steel Corp by Japan-based Nippon Steel Corp., saying it is "vital" to keep the 123-year-old American steelmaker in U.S. hands.

President Joe Biden signed into law March 9 an FY 2024 six-bill appropriations package that adds the agriculture secretary to the Committee on Foreign Investment in the U.S. to review agricultural transactions.

Sen. Kevin Cramer, R-N.D., introduced a bill Feb. 8 that would require the Committee on Foreign Investment in the U.S. to respond to a state governor who asks whether a proposed transaction would trigger a CFIUS review.