PROTECT Act of 2025

Summary

Expands the Defense Production Act’s definition of a “covered transaction” to bring certain greenfield and brownfield investments by foreign persons from covered countries under review if those investments could result in control of a U.S. business (including through formal or informal arrangements to act in concert). The change applies to investments proposed or pending on or after enactment and updates cross‑references so the new investment category is treated like existing covered transaction types. A second, separate amendment slot appears but contains no substantive text.

• Expands the Defense Production Act's definition of "covered transaction" to include certain greenfield and brownfield investments by foreign persons from covered countries.
• Applies to investments proposed or pending on or after enactment.
• Captures investments that could result in control, including formal control or informal arrangements to act in concert.
• Updates cross‑references so the new investment clause is treated like existing covered transaction clauses for review purposes.
• Increases the pool of inbound investments subject to national‑security review, potentially raising the number of notices, mitigation terms, or blocked transactions.
• Does not include new appropriations, nor does it in this text change mandatory filing procedures (a separate amendment slot is empty).
• Primarily targets transactions involving covered foreign countries and sensitive U.S. businesses or facilities.
• May affect developers, utilities, manufacturers, and contractors involved in greenfield or brownfield projects.
• Implements a forward‑looking rule (transactions proposed or pending on/after enactment), not retroactive review of completed transactions.
• Is narrowly focused on transaction definition and cross‑references rather than broad procedural overhaul.