ARTICLE · 23 JANUARY 2025

U.S. Issues Unprecedented Order Restricting Investment In China

Torres Trade Law, PLLC

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Senator Cornyn made the above statement on the Senate floor on November 14, 2023, while advocating for his colleagues to pass the Outbound Investment Transparency Act as part of the 2024 National.

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Camille Edwards

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"We now know China as the single largest national security threat of our time, and it's clear that United States entities are helping bankroll its rise."

– John Cornyn, US Senator from Texas¹

Senator Cornyn made the above statement on the Senate floor on November 14, 2023, while advocating for his colleagues to pass the Outbound Investment Transparency Act as part of the 2024 National Defense Authorization Act ("NDAA").² However, Senator Cornyn could just as easily have made the statement in 2018 when he unsuccessfully advocated for subjecting certain outbound investments to government review as part of the Foreign Investment Risk Review Modernization Act ("FIRRMA"), which expanded the jurisdiction over foreign inbound investment for the Committee on Foreign Investment in the United States ("CFIUS").³ More on the Outbound Investment Transparency Act later, but independent of Congressional action the United States has already begun setting up an outbound

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