The proposed acquisitions of major operations in six major U.S. ports by Dubai Ports World and of Unocal by the China National Offshore Oil Corporation (CNOOC) sparked intense concerns among some Members of Congress and the public and has reignited the debate over what role foreign acquisitions play in U.S. national security. While the United States actively promotes internationally the policy of relaxing rules concerning foreign investment, including the national treatment of foreign firms, some Members of Congress and others are concerned with this policy as it relates to allowing foreign, and particularly government-owned companies, unlimited access to the Nation's industrial base. Much of this debate focuses on the activities of a relatively obscure committee, the Committee on Foreign Investment in the United States (CFIUS) and the Exon-Florio provision, which gives the President broad powers to block certain types of foreign investment. Several Members of Congress have introduced various measures during the 2nd Session of the 109th Congress to amend this process. These measures can be grouped into four major areas: those that deal specifically with the proposed Dubai Ports World acquisition; those that focus more generally on foreign ownership of U.S. ports, especially if the foreign entity is owned or controlled by a foreign government; those that would amend the CFIUS process; and those that would amend the Exon-Florio process. Such measures as H.J.Res. 79, S.J.Res. 32, H.R. 4807, S. 2333, and S. 2341 would use various methods to block either the proposed acquisition by Dubai Ports World, or they would prevent Dubai Ports World from taking over control of the U.S. ports involved in the acquisition. In the second area, such measures as H.R. 4817, H.R. 4842, H.R. 4880, H.R. 4885, and S. 2334 would prohibit or significantly reduce the ability of foreign persons to operate U.S. ports.
Exon-Florio National Security Test for Foreign Investment
2006
18 pages
Report
Keine Angabe
Englisch
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