A U.S. government panel that reviews foreign takeovers of American companies should continue to focus on national security, Treasury Secretary Steven Mnuchin said, downplaying speculation that the Trump administration would expand its authority.

"For national security reasons, we can block investment, and that will be something we continue to do," Mnuchin said Monday in an interview with Bloomberg Television, when asked about the Committee on Foreign Investment in the U.S., which is known as CFIUS.

Chaired by Mnuchin, the panel reviews foreign acquisitions of U.S. companies for national security risks. Both Democratic and Republican lawmakers have been pressing the Treasury Department for years to broaden CFIUS's purview to include foreign investments into so-called "soft power" institutions, such as Hollywood movie studios.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.