Information and Communications Technology and Services (ICTS) Rule and Review Process [February 12, 2021] [open pdf - 440KB]
From the Introduction: "On January 19, 2021, the Department of Commerce (Commerce) issued an interim final rule (86 FR 4909) implementing Executive Order 13873, which created a new process for the Secretary to review transactions involving information and communications technology and services (ICTS) and determine whether those transactions present certain national security and economic risks. When a transaction in ICTS involves foreign persons or governments designated as 'foreign adversaries' and presents certain 'undue or unacceptable risks' to the United States, the new rule (ICTS Rule) allows Commerce to either block the transaction or negotiate risk-mitigation measures. The ICTS review process regulates individual 'ICTS transactions'--broadly defined as 'any acquisition, importation, transfer, installation, dealing in, or use of any [ICTS].' As such, it could subject a wide range of commercial interactions to a new federal approval process."
CRS In Focus, IF11760
Congressional Research Service: https://crsreports.congress.gov/