Combat Chinese Economic Aggression Act of 2024

The Combat Chinese Economic Aggression Act of 2024 would expand the Committee on Foreign Investment in the United States' (CFIUS) review authority to scrutinize investments by Chinese entities and other "countries of concern" in U.S. businesses that could affect U.S. economic or technological competitiveness. It would require enhanced disclosures for private fund advisers regarding investments in countries of concern and create new notification requirements for U.S. persons engaging in certain activities involving "covered sectors" like semiconductors, AI, and quantum technology with entities from countries of concern. The bill establishes a framework for identifying technologies in covered sectors that pose national security threats, and would prohibit certain transactions involving those technologies unless exempt, with civil penalties for violations up to $5 million or twice the value of the transaction.