White House, Congress Working on UAE Compromise

Time Online is reporting that the White House, Congress, and the UAE are working on a new port compromise:

Moving toward a deal that could allow President Bush and congressional GOP leaders to save face and avert a prolonged confrontation, GOP officials said today that they were discussing the idea of having Dubai Ports World seek a new review of its acquisition of a British company’s operation that runs several key U.S. ports.

House Homeland Security Committee Chairman Peter King, confirmed in a phone interview early Saturday afternoon to TIME that officials were close to a deal involving the Congressional leadership, the White House and the Dubai company. The agreement would call for a 45-day “CFIUS-plus investigation,” King said, referring to the Committee on Foreign Investment in the United States, a Treasury Department-run interagency panel that probes proposed acquisitions in the U.S.

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