New Bill Would Restrict Foreign-Owned Stores on US Military Bases
Sen. Ted Budd, R-N.C., and two other senators introduced a bill April 10 that would bar companies owned or controlled by China or other “foreign adversaries” from owning or operating retail stores on U.S. military bases.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
A retailer could seek a waiver from the Committee on Foreign Investment in the U.S. or the defense secretary. To grant a waiver, CFIUS would have to determine that the retailer didn't threaten national security, while the defense secretary would have to implement measures to mitigate any potential national security risks.
The senators said the Military Installation Retail Security Act is needed to protect sensitive personal and military data. The bill was referred to the Senate Armed Services Committee. Rep. Pat Harrigan, R-N.C., introduced a companion bill in the House in early April.