Biden order sharpens foreign investment screening process

By AAMER MADHANI
Associated Press

WASHINGTON (AP) — President Joe Biden has signed an executive order that aims to sharpen the national security considerations taken in the federal government’s review process for foreign investment in the United States. Biden administration officials say the order signed Thursday will bolster oversight by the Committee on Foreign Investment in the United States. The interagency group is tasked with reviewing deals and mergers involving foreign people and entities. The committee sends its findings and a recommendation to the president, who has the power to suspend or prohibit a deal. Biden’s executive order comes amid growing concern among U.S. officials about China’s investments in the U.S. technology sector and other industries.