More checks, controls and screenings on foreign trade and investment with the European Union are on the cards in the latest proposal from the European Commission on Wednesday. Facing “profound geopolitical turmoil and fast technological shifts” the EU has to reduce security risks from trade and investment, EU Trade Commissioner Valdis Dombrovskis said in a statement. The package contains a wider screening regime on foreign direct investment into the bloc so that all EU member states must have a system with harmonized rules. The idea is to assess the risk involved in foreign takeovers of biotec…