United States: Inward/ Foreign Investment

The Committee on Foreign Investment in the United States released its Annual Report for Calendar Year 2025, revealing significant shifts in filing patterns, declaration clearance rates, and mitigation agreement usage. With declaration filings reaching record highs but clearance rates dropping to historic lows, parties face new strategic considerations when navigating CFIUS review processes under the Trump Administration's America First Investment Policy.

On August 7, 2026, the U.S. Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), released its Annual Report to Congress covering calendar year 2025 (the “Report”). The Report provides detailed statistics on CFIUS filing volumes, review timelines, enforcement actions, and policy developments during 2025. Below, we summarize the key takeaways from the Report and their practical implications for M&A transactions. These statistics are increasingly important for dealmakers, as the CFIUS process can affect deal timing and risk allocation, and is critical to regulatory risk assessment across the M&A lifecycle.

Europe's defense sector is experiencing a major transformation as nations commit to increasing defense spending to 5% of GDP, creating unprecedented investment opportunities across manufacturing, infrastructure, and technology. This analysis examines the key trends reshaping the market, from AI and autonomous systems to evolving regulatory frameworks and foreign investment screening. Understanding how competition law, export controls, and compliance requirements intersect will be critical for investors seek