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U.S. tariffs in the pharmaceutical sector

Since taking office in January 2025, the Trump Administration has announced, imposed, or reimposed various tariff-related restrictions on articles imported into the United States. These proposed tariffs and their...more

President Trump announces “America First Investment Policy”

On February 21, 2025, President Trump issued a National Security Presidential Memorandum (NSPM) that sets out his administration's “America First Investment Policy,” with a particular focus on promoting foreign investment...more

Foreign investment control regimes reach far and hit hard

Foreign investment (FDI) screening regimes continued to present challenges for dealmakers. We saw tough intervention in key jurisdictions. New and expanding rules added to regulatory burden. Overall, most deals are cleared...more

Trump’s steel and aluminum tariffs

On February 10 and 11, 2025, President Trump issued two proclamations pursuant to Section 232 of the Trade Expansion Act of 1962 (Section 232) announcing the imposition and/or reimposition of certain tariffs on imported steel...more

Trump administration's tariffs targeting China, Canada and Mexico

On February 1, 2025, President Trump issued three Executive Orders (EOs) announcing tariffs on China (the China EO) Canada (the Canada EO), and Mexico (the Mexico EO), respectively, pursuant to the International Economic...more

CFIUS Update: 2023 Report to Congress and new enforcement website

The Committee on Foreign Investment in the United States (CFIUS) continues to play an increasingly active role in reviewing and assessing inbound investment transactions for U.S. national security risks. In this alert, we...more

Biden Administration Moves to Restrict Outbound Investment to China

On August 9, 2023, the Biden Administration issued a long-awaited Executive Order (the EO) that is intended to address the potential national security threats posed by outbound investment from the United States to certain...more

U.S. bolsters national security reviews of in-bound foreign investment

President Biden recently issued “formal Presidential direction” on the risks that the United States will consider when evaluating in-bound foreign investment....more

U.S. Treasury implements Final FIRRMA Regulations

INTRODUCTION - This week, new regulations promulgated by the U.S. Department of the Treasury (the Treasury) went into effect to finalize and comprehensively implement the Foreign Investment Risk Review Modernization Act of...more

Dealmakers Beware: Trump Expands CFIUS’ Reach

On August 13, 2018, President Donald Trump expanded the powers of the Committee on Foreign Investment in the United States (CFIUS) to review foreign investments in the United States by signing into law the Foreign Investment...more

Buyer Beware: CFIUS's Expanding Reach

Introduction - Although the Committee on Foreign Investment in the United States (CFIUS) has been evaluating foreign investment for implications to U.S. national security interests since 1975, its authority has expanded...more

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