Lawmakers Gear Up to Tweak U.S. Vetting of Foreign Deals

Legislation to beef up U.S. vetting of foreign investments is gaining steam even though some in the business community are worried that lawmakers will hurt U.S. firms in global deals.

Rep. Andy Barr (R-Ky.) said at a Jan. 9 hearing that he wants the bipartisan bill (H.R. 4311) to be on President Donald Trump’s desk by August. He chairs the House Financial Services Committee’s monetary policy and trade subcommittee that is considering the bill.

Bill sponsor Rep. Robert Pittenger (R-N.C.) said at the hearing that the measure has support from Attorney General Jeff Sessions, Defense Secretary Jim Mattis, and Treasury ...