CFIUS and Foreign Direct Investment Under President Donald Trump

On January 20, 2017, presidential power will transfer from Democratic President Barack Obama to Republican President-elect Donald Trump. Presidential transitions typically increase uncertainty for parties undertaking mergers and acquisitions in the United States, particularly transactions subject to review by the Committee on Foreign Investment in the United States (CFIUS). Given the unusual campaign this year, the strong theme of “change” that appeared to capture the American electorate, the fact that investment policy was not at the forefront of the campaign, and the novelty that the President-elect has never held public office and has left no clear record of how he views foreign direct investment, the uncertainty in this particular transition is acute.