Kevin Wolf Quoted by Financial Times on Trump Admin. Proposal on Technology Imports

The Financial Times has quoted Akin Gump international trade partner Kevin Wolf in the article “US commerce secretary to vet imports of sensitive technology,” which reports on a proposal by the Trump administration that would require personal approval by the Commerce Secretary of all sensitive transactions involving imports of technology.

According to the article, the move would give Commerce Secretary Wilbur Ross the ability to block any transaction involving sensitive hardware, software or data services between an American company and anyone linked to a “foreign adversary.” It could also create a new hurdle for technology companies seeking to sell their products in the United States.

“This is kind of a new CFIUS (Committee on Foreign Investment in the United States), but one that is not about an investment in a U.S. company, but any kind of technology transaction,” said Wolf. “This is creating a whole new bureaucracy and a whole new regulatory structure.”