Treasury, Commerce & foreign lobbyists try to kill Pentagon national security measure
Paid lobbyists of foreign companies are working to kill a Pentagon effort to require the screening of non-US entities seeking to buy American businesses.
The Pentagon wants to ensure that foreign acquisitions of American companies don’t harm US national security.
Other administration officials disagree. According to the Financial Times, the Defense Department has retreated under pressure from elsewhere in the administration, but it isn’t surrendering yet.
The Treasury Department and Commerce Department reportedly oppose the national security initiative, even though a Treasury panel would do the screening.
US officials who do not want to screen foreign entities from buying American companies are worried that “national security hawks on Capitol Hill” will try to re-insert the language in the 2003 defense authorization bill.
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