US to Expand Scrutiny of Foreign Investments Near Military Bases

The US Treasury Department will expand its scrutiny of foreign investments near military bases to counter suspected security threats from China and other countries.

The proposed rule “will significantly expand” the jurisdiction of a special government panel that reviews foreign purchases of US companies and real estate, Treasury Secretary Janet Yellen said in a statement on Monday.

The Committee on Foreign Investments in the US, which is led by Treasury, has the power to review, block or place restrictions on foreign purchases of real estate near sensitive military installations, citing fears of surveillance and espionage.

The move would add more ...