US to Seek Improved Screening of Sensitive Tech M&A, in Meetings With Japan and EU

U.S. administration officials will meet with EU and Japanese counterparts next month to lobby for increased scrutiny of mergers and acquisitions involving sensitive technologies, said Thomas Feddo, Treasury Department assistant secretary-investment security. The U.S. is implementing revisions in the Foreign Investment Risk Review Modernization Act (see 2002120034). FIRRMA will adapt to any rulemaking changes in technology, and Treasury prioritized improving investment screening among allies and quadrupled Office of Investment Security staffing as the Trump administration focuses on maintaining a technological edge over China, Feddo said Wednesday. Industry worries about lack of clarity on what's considered critical tech (see 2001150018). Treasury “does not have a lot of latitude” to define this, Feddo said, and the agency is awaiting direction. “Obviously we’re looking to the Commerce Department to develop and designate emerging technologies,” he told the Asia Society: But the ability to review M&A won't be hurt.