Industry calls on Commerce Dept. to develop more targeted approach for reviews of foreign ICTS transactions

Industry groups are supportive of the Commerce Department’s revised process for foreign transaction reviews targeted at the information and communications technology and services sector, but remain concerned over its implementation and potential impact.

The Commerce Department issued a notice of proposed rulemaking last week to align criteria from a June executive order evaluating risk from connected software applications with a January supply chain interim final rule that gives the secretary of Commerce the ability to make determinations to prohibit...