Washington – Today, U.S. Treasury Secretary Steven T. Mnuchin released the following statement on the President signing into law the National Defense Authorization Act. The new law contains the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which strengthens and modernizes the Committee on Foreign Investment in the United States (CFIUS).
“FIRRMA delivers much-needed reforms that will ensure CFIUS has the tools necessary to identify, examine, and address national security concerns arising from foreign investment. America is a vibrant place to invest, and better protecting critical U.S. technology and infrastructure will ensure it stays that way. FIRRMA passed with overwhelming bipartisan support, and I am extremely proud of the work between Treasury and Congress to reach this historic agreement.”
Please find additional information on FIRRMA at the CFIUS website.