Baldwin and Khanna propose foreign investment review board

Sen. Tammy Baldwin and Rep. Ro Khanna are introducing legislation to create a new federal board that would review direct foreign investment in the United States. The proposal comes as President Donald Trump pursues major investment commitments from foreign countries alongside trade negotiations. The bill would establish the Foreign Investment Review Authority as an independent executive branch body. It would have broad oversight power, including the ability to evaluate whether foreign investment deals are allowed and to block transactions that do not meet the law’s standards. Supporters say the measure is meant to protect U.S. workers, improve transparency, and prevent conflicts of interest or corrupt deals. The proposal targets investment commitments tied to trade agreements, tariffs, or other U.S. economic actions, and it would apply heightened scrutiny to deals involving adversarial nations.