CFIUS has become more vigilant, with reviews as a share of investment spiking in 2019-20 then stabilizing in 2021

Foreign mergers and acquisitions (M&A) transactions in the US vs. share of M&A reviewed by CFIUS, 2015–2021

PIIE Chart: Design by Nia Kitchin and Oliver Ward
Source: Author’s calculations based on data from White & Case M&A Explorer (Mergermarket) and US Treasury data.