New Executive Order Details CFIUS National Security Factors

On September 15, 2022, President Joe Biden signed an executive order (“EO”) detailing key factors for the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”) to consider when reviewing transactions for national security risks. The EO provides direction to CFIUS by elaborating on existing statutory factors and adding five sets of national security factors for CFIUS to consider during its review process. Moreover, the EO highlights for CFIUS specific industry sectors that have national security implications, including microelectronics, artificial intelligence, biotechnology and biomanufacturing, quantum computing, advanced clean energy (such as battery storage and hydrogen), climate adaptation technologies, critical materials (such as lithium and rare earth elements), and elements of the agricultural industrial base.