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US to Expand Scrutiny of Foreign Investments Near Military Bases

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The US Treasury Department plans to expand its scrutiny of foreign investments near military bases in order to address potential security concerns from nations such as China. The proposed rule will extend the jurisdiction of a government panel that reviews foreign purchase of US companies and real estate. The Committee on Foreign Investments in the US (CFIUS), led by Treasury, has the authority to review, restrict, or block foreign purchases near sensitive military installations due to fears of surveillance and espionage. This expansion would encompass over 50 bases across 30 US states, bringing the total number of bases under review to 227. The move follows President Joe Biden's directive for a Chinese company to sell a property near a Wyoming Air Force base containing intercontinental ballistic missiles.