Business Groups Attack ‘America First’ Merger Review Bill

Bloomberg BNA discusses the United States Foreign Investment Review Act of 2017 with John Berlau.

Senate legislation to increase scrutiny of mergers proposed by foreign investors faces opposition from the U.S. Chamber of Commerce and free-market think tanks.

John Berlau, a senior fellow at the Competitive Enterprise Institute, called the legislation a “very harmful” bill that makes President Donald Trump’s criticism of trade deals look moderate.

“I can’t imagine even President Trump supporting this,” he told Bloomberg Law. “I think even he would realize that this would be detrimental to jobs here. This legislation is basically saying that we’d rather have American firms go bankrupt than be rescued by foreign owners.”

Read the full article at Bloomberg BNA.