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Business Groups Urge Caution On CFIUS Reform

Even in the wake of the flap over foreign ownership of a company that manages several major U.S. ports, most manufacturers and other business executives would be hard-pressed to identify the Committee on Foreign Investment in the United States (CFIUS).

However, four business groups on May 11 urged Congress "to weigh carefully" any changes in how CFIUS, a federal inter-agency panel, goes about judging what investments should be allowed and those that should be rejected.

The four groups are the Business Roundtable, the Financial Services Forum, the Organization for International Investment, and the U.S. Chamber of Commerce.

They urged Congress follow three principles in any reform legislation: retain national security as the focus of the investment review process; keep the process fair and objective; and maintain an open and non-discriminatory investment environment.

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