ITI Statement on Biden Administration Outbound Investment Executive Order
WASHINGTON – Today, global tech trade association ITI issued the following statement from its Executive Vice President of Policy Rob Strayer in response to President Biden’s Executive Order (opens in a new tab) Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern:
“The U.S. government has no more important responsibility than to protect the nation’s security. Industry is committed to partnering with the U.S. government as it works to ensure resilient and secure critical supply chains. While we’re still reviewing the details of today’s Executive Order, we appreciate the Biden Administration taking a risk-based approach to assessing business transactions. Because technology investments can originate anywhere in the world, successful implementation will require robust coordination with global allies. A harmonized approach also will help ensure U.S. businesses are not unintentionally disadvantaged by these requirements. We are encouraged that the administration intends to work with stakeholders, including industry, as it implements this Executive Order and help ensure it ultimately supports our shared goal of enhancing U.S. economic competitiveness and national security.”