The Administration is still tied up in an internal debate over an executive order to implement changes to the way we look at the security implications of foreign investments, reports Bill Gertz of the Washington Times: Justice, DHS 'still object' to CFIUS order (Dec 6). Changes are required under a new law passed earlier this year, but there are different ways to make them.
Gertz is characterizing the debate as an argument between security minded agencies and and others that are more concerned over the U.S. investment climate.
...pro-business officials are seeking to limit the authority of security officials at the Justice, Homeland Security and Defense departments through the order.
"Justice and DHS still object," one official said.
However, the official said that the National Security Council staff are ready to push ahead with the current order despite the objections from security officials and members of Congress from both parties....
At issue are the law's implementing regulations, which critics in the administration say will limit the authority that national security agencies had to order "mitigation agreements" designed to curtail national-security threats from proposed foreign acquisitions of U.S. companies. Under the draft order, the Treasury secretary will have more power to resolve disputes when before the committee, while the White House National Security Council staff gets more authority in the appeals process.
Gertz has a copy of the draft executive order dated October 12, and
...states in its opening preamble that the United States "unequivocally" supports foreign investment. The phrase "protecting national security" is mentioned in a sentence in the context of "recognizing that our prosperity and security are founded on our country's openness."
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