print this page

USW’s Gerard Calls for Moratorium on CFIUS Approvals, Comprehensive Review of Process

Letter to President Bush Cites Ports Controversy, Transfer of Magnequench ‘Smart-Bomb’ Technology to China

For Immediate Release                                        February 28, 2006

PITTSBURGH — In a Feb. 28 letter, Leo W. Gerard, international president of the United Steelworkers, called on President Bush to institute a moratorium on approvals by the Committee on Foreign Investment in the United States (CFIUS) and a comprehensive review of the CFIUS process.

Charging CFIUS with “placing a priority of foreign investment over security,” Gerard’s letter emphasized that, “National and homeland security interests must never be forced to take a back seat. Our nation’s critical infrastructure must be protected.”

The complete text of the letter is reproduced below: