Sources: Cornyn’s CFIUS bill will face business opposition

Companies like IBM, Goldman Sachs and General Electric are concerned about Senate Majority Whip John Cornyn’s (R-TX) bill to reform the Committee on Foreign Investment in the United States, sources told Inside U.S. Trade this week. IBM believes the bill would give CFIUS too much authority to review and scuttle deals that do not warrant national security risks while turning the agency into a “supra-export control agency, unilaterally limiting the ability of American firms to do business abroad while...