Leading Republicans call for changing procedures governing acquisition of U.S. ports by foreign companies

The United States must overhaul the way it reviews foreign acquisitions of companies involving U.S. ports, two key Republican lawmakers said, calling the Bush administration’s handling of the Dubai deal flawed. The problem is “the committee that conducts the review is weighed toward the Treasury Department,” said Senator Susan Collins (R-Maine), chairwoman of the Senate Homeland Security Committee. “I think we need to scrap the committee, start again, constitute it within the Department of Homeland Security,” said Collins, adding that the panel should include a member of the intelligence committee. “The process now is deeply flawed.”

Congressman Duncan Hunter (R-California), chairman of The House Armed Services Committee, said he wants to scuttle the Dubai deal and then require foreign governments to divest from critical U.S. installations unless they pass a review by the departments of defense and homeland security. “I trust President Bush, but I think he needs to get more information,” said Hunter, calling Dubai a dangerous place. “I think they looked at it at a superficial level, and they didn’t get those intelligence briefs.”

-read more in this AP report