Global companies that work with U.S. technologies, customers, and suppliers are encountering a heightened regulatory risk environment. The acceleration of technological innovation, convergence of commercial and military applications, and escalating geostrategic competition is driving increased scrutiny by U.S. authorities of technology transfer controls. U.S. regulators are expanding the types of technologies subject to strict export controls, prohibiting transfer of technologies to specified (typically, Chinese) parties, and restricting use of certain “adversary” technologies in products, services and the telecommunications and power infrastructure. These developments have particular significance for non-U.S. companies that supply into or cooperate with the U.S. Defense Industrial Base, and these technology issues resonate with non-U.S. ministries of defense as well. The inauguration of President Biden also raises the question whether these trends will continue under a different U.S. Administration.