Clifford Chance

Six New Critical Technologies for CFIUS - Commerce Department Implements Multilateral Controls on Emerging Technologies

October 6, 2020

On October 5, 2020, the Commerce Department's Bureau of Industry and Security issued a Final Rule implementing multilateral controls on emerging technologies. The United States and other participating states agreed to implement these controls at the December 2019 Plenary meeting of the Wassenaar Arrangement on Export Controls for Conventional Arms and Dual-Use Goods and Technologies to improve regional and international security and stability. Effective immediately, the Final Rule revises the Commerce Control List to add six emerging technologies that are deemed essential to US national security, while making other corrections and revisions. Moreover, non-US investments in companies that produce, design, test, manufacture, fabricate, or develop these technologies (identified by their Export Control Classification Numbers) now may be subject to mandatory filings under the United States' foreign direct investment regime: the Committee on Foreign Investment in the United States.

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