Clifford Chance

New Trump Policy Signals Significant Changes to CFIUS and the New Outbound Investment Security Program

24 February 2025

On February 21, 2025, the White House released the America First Investment Policy National Security Presidential Memorandum ("NSPM"), a policy directive which includes potential significant changes to the Committee on Foreign Investment in the United States ("CFIUS") process and the new US Outbound Investment Security Program ("OIP").

The NSPM also indicates that the Trump Administration may take additional measures to deter investment in the People's Republic of China ("PRC") military-industrial sector, including, for example, economic sanctions.

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