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EO 14083Executive OrderBiden · D Quiet signal

Executive Order 14083

Ensuring Robust Consideration of Evolving National Security Risks by the Committee on Foreign Investment in the United States

This executive order directs the Committee on Foreign Investment in the United States (CFIUS) to expand its national security reviews of foreign investments by adding new factors: supply chain resilience, technological leadership in sectors like AI and quantum computing, aggregate industry investment trends, cybersecurity risks, and sensitive data access. It also requires CFIUS to periodically review its processes and report to the National Security Advisor.

Federal Register Open PDF 87 FR 57369

Impact dates

  1. CFIUS regular review of processes and periodic report to National Security Advisor (ongoing duty, no fixed deadline specified)

  2. OSTP periodic publication of technology sectors list (ongoing duty, no fixed first deadline specified)

Key directives

  • CFIUS shall consider supply chain resilience and security in specified sectors including microelectronics, AI, biotechnology, quantum computing, advanced clean energy, climate adaptation technologies, critical materials, and agriculture with food security implications
  • OSTP shall periodically publish list of technology sectors fundamental to U.S. technological leadership in national security-relevant areas
  • CFIUS shall consider aggregate industry investment trends and cumulative control by foreign persons in its reviews
  • CFIUS shall consider cybersecurity risks including election interference, critical infrastructure, and smart grid sabotage
  • CFIUS shall consider risks from foreign access to sensitive U.S. person data including health, digital identity, biological data, and de-anonymizable data
  • CFIUS shall regularly review its processes, practices, and regulations and periodically report to Assistant to the President for National Security Affairs

Who is ordered

Timeline

Immediate

  • New review factors apply to pending and future CFIUS covered transactions
  • CFIUS must consider supply chain, cybersecurity, and data factors in current reviews

Near term (90d)

  • OSTP to begin developing periodic list of technology sectors fundamental to U.S. technological leadership
  • CFIUS to initiate first periodic internal process review

Long term

  • Ongoing periodic reports to National Security Advisor on CFIUS process updates
  • Cumulative impact on foreign investment patterns in targeted sectors
  • Potential regulatory updates from CFIUS self-reviews

Risks & tensions

  • Vague 'periodically' language for OSTP list and CFIUS reports creates implementation uncertainty
  • Expanded review criteria may increase transaction uncertainty and timeline for foreign investors without statutory CFIUS deadline changes
  • Tension between welcoming foreign investment and increasingly restrictive national security screening
  • Sensitive data definitions are broad and could capture wide range of commercial transactions; 'de-anonymized' standard is technically evolving
  • Aggregate investment trend analysis requires new CFIUS analytical capabilities and interagency coordination with Commerce
Executive Order 14083: Ensuring Robust Consideration of Evolving National Security Risks by the Committee on Foreign Investment in the United States · Executive Orders