created the committee by . It was composed of the secretary of the treasury as the chairman, secretary of state, secretary of defense, secretary of commerce, the assistant to the president for economic affairs, and the executive director of the Council on Foreign Economic Policy. The executive order also stipulated that the committee would have "primary continuing responsibility within the Executive Branch for monitoring the impact of foreign investment in the United States, both direct and portfolio, and for coordinating the implementation of United States policy on such investment." In particular, CFIUS was directed to: arrange for the preparation of analyses of trends and significant developments in foreign investments in the United States; provide guidance on arrangements with foreign governments for advance consultations on prospective major foreign governmental investments in the United States; review investments in the United States which, in the judgment of the committee, might have major implications for United States national interests; and consider proposals for new legislation or regulations relating to foreign investment as may appear necessary. In 1980, President Jimmy Carter added the United States trade representative and substituted the chairman of the Council of Economic Advisers for the executive director of the Council on International Economic Policy by . In 1988, the Exon–Florio Amendment was the result of national security concerns in Congress caused by the proposed purchase of Fairchild Semiconductor by Fujitsu. The Exon-Florio Amendment granted the president the authority to block proposed mergers, acquisitions, and takeovers that threaten national security. In 1988, President Ronald Reagan added the attorney general and the director of the Office of Management and Budget by . Reagan also delegated the review process to the Committee on Foreign Investment in the United States in the same executive order, utilizing the statutory authority the U.S. Congress enacted to enable the president to review foreign investments, in the form of Exon-Florio Amendment. In 1992, the Byrd Amendment required CFIUS to investigate proposed mergers, acquisitions, and takeovers where the acquirer is acting on behalf of a foreign government and affects national security. In 1993, President Bill Clinton added the director of the Office of Science and Technology Policy, the national security advisor, and the assistant to the president for economic policy by . In 2003, President George W. Bush added the secretary of homeland security by . The Foreign Investment and National Security Act of 2007 (FINSA) established the committee by