BRUSSELS—The European Union agreed on Tuesday to establish a framework for screening foreign investments in an attempt to safeguard strategic EU assets following a Chinese buying spree, though questions remain about the rules’ effectiveness. After five months of negotiations, representatives for the European Parliament and the EU’s 28 member states reached the agreement a “trilogue” meeting with the European Commission on Tuesday. Lawmakers in the European Parliament wanted tougher screening than initially proposed by the EU executive, such as obliging the Commission to screen deals and requiring EU countries to cooperate.
The European Union reaches a provisional agreement on a system to investigate foreign investments into Europe.