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  1. Our thinking
  2. Foreign Investment Monitor - June 2025 | Issue 10
Foreign Investment Monitor

Geopolitical shifts are reshaping Foreign direct investment (FDI) worldwide.

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Trade wars, political volatility, and national security concerns are no longer background noise – they’ve become defining forces in global investment strategy

FDI is now a frontline issue in the geopolitical contest for economic power, and investors are contending with an environment marked by rapid policy shifts, heightened scrutiny and growing uncertainty.

This edition of the Foreign Investment Monitor explores how shifting political and regulatory forces are redefining global investment:

  • World war tariff: Is the global trade conflict redrawing the FDI map?

The Trump administration’s Liberation Day tariffs have upended the international trade order. What could this mean for foreign investment?

  • Nippon Steel’s unprecedented resurrection: Right answer for the wrong reason

President Trump’s revival of the Nippon Steel deal signals a new era of politicized investment review in the United States. As CFIUS becomes a tool of domestic strategy, foreign investors face greater uncertainty – and higher stakes.

  • Japan’s foreign investment regime gets sharper teeth: Are investors ready for the bite?

Japan is tightening its grip on foreign investment in the name of national security. With new rules and broader oversight, even low-risk deals may now face scrutiny.

  • Peeking into the black box: What UK court rulings reveal about national security reviews

Court rulings are offering rare insights into the UK’s national security review regime. For investors, the message is clear: process matters, and preparation pays.

  • Politics, power, and investment: Transatlantic developments in FDI control

As foreign investment regimes harden across the transatlantic corridor, scrutiny is becoming sharper, broader and more political. In the EU, Dublin and Ottawa, once-routine deals are increasingly being viewed through a national security lens.

Around the world, we see that governments are recalibrating their foreign investment regimes – tightening controls, expanding oversight, and placing national interest at the heart of deal-making. As the rules evolve, so too must investor strategies.

June 2025 articles
Executive summary
1. Is the global trade conflict redrawing the FDI map?
2. Nippon Steel’s unprecedented resurrection
3. Japan’s foreign investment regime gets sharper teeth
4. What UK court rulings reveal about national security reviews
5. Transatlantic developments in FDI control
Past editions
Foreign investment monitor archive
Related capabilities
Foreign direct investment and national security

Contacts

Contacts

View all team
London, Hong Kong, Dublin
Alastair MordauntPartner
Washington, DC
Aimen MirPartner | Foreign Investment and National Security | Head of CFIUS Practice
Berlin
Frank RöhlingPartner
London
Michele DavisPartner | Global Co-Head of Tech, Media and Telecoms
Brussels
Rafique BachourGlobal Managing Partner
Washington, DC
Brian ReissausSenior Advisor, National Security*
Hong Kong
Ninette DodooPartner
Berlin
Uwe SalaschekCounsel
London
Sarah JensenCounsel
Amsterdam
Winfred KnibbelerPartner
Washington, DC
Colin CostelloCFIUS and National Security Advisor
Vienna
Maria Dreher-LorjéPartner
London, Dublin, Brussels
Alex PotterPartner
Milan, Rome
Ermelinda SpinelliPartner
Paris, Brussels
Jérôme PhilippePartner
Washington, DC
Christine LaciakSpecial Counsel
Madrid
Álvaro IzaPartner
Düsseldorf
Juliane HilfPartner
Amsterdam
Paul van den BergPartner
Rome
Gian Luca ZampaPartner
Brussels
Andreas von BoninPartner
Madrid
Ignacio BorregoOf Counsel
Tokyo
Kaori YamadaPartner
Paris
Pascal CuchePublic Law
Vienna
Stephan DenkPartner
View all team
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