Bloomberg Law
May 24, 2018, 12:29 PM UTC

Foreign Investment Bill Regains Traction After Concessions

Legislation to overhaul U.S. reviews of foreign investments advanced in a Senate committee on May 22, after months of negotiations to resolve business community objections.

The Senate Banking Committee approved the measure (S. 2098) 25-0 with an amendment designed to rein in White House interference in penalties levied against Chinese telecommunications companies. Sen. Chris Van Hollen (D-Md.) inserted the amendment in the wake of President Donald Trump’s recent request to the Commerce Department to alter ZTE Corp.'s penalties for selling sensitive U.S. technologies to Iran and North Korea in violation of U.S. sanctions laws.

The House Financial Services Committee separately ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.