), as would be available in the absence of this Act. (2) Authority of the President The President may not exercise any authority under section 4 with respect to a covered holding that directly resulted from a transaction if— (A) the Committee on Foreign Investment in the United States reviewed the transaction (or a broader transaction that included the transaction) as a covered transaction (as defined in section 721(a)(4) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(a)(4) ) and its implementing regulations