Senate Republicans Ask for Treasury Briefing on CFIUS Evasion Attempts

Top Republicans on the Senate Judiciary, Finance and Banking committees asked the Treasury Department to brief them on how Treasury plans to handle foreign governments that try to evade U.S. investment screening tools. Sens. Chuck Grassley of Iowa, Mike Crapo of Idaho and Pat Toomey of Pennsylvania “remain concerned” that China and other foreign governments are attempting to evade reviews by the Committee on Foreign Investment in the U.S. “to undermine U.S. superiority in leading edge technologies,” they wrote in an April 13 letter to Treasury Secretary Janet Yellen. They asked the administration to provide a briefing by May 1 on how it will “approach and handle” CFIUS evasion attempts as well as any actions Treasury has already taken. Treasury didn't comment.