Until now, only takeovers and controlling stakes in American companies could be reviewed. Under the pilot program, Cfius will be able to review a much wider array of deals, including joint ventures and smaller investments by foreigners in American businesses that make technology deemed critical for national security reasons.

Beginning on Nov. 10, the panel can review — and block — a deal if a foreign investor takes a stake in a business that makes sensitive technology and if that investor gains potential access to nonpublic technical information or can engage in substantial decision-making over the company, such as getting a board seat.

In a briefing with reporters on Tuesday evening, senior Treasury Department officials emphasized that the program would not be focused on China and would apply to any foreign investors.

The new law, which passed with bipartisan support, gave the Treasury Department 18 months to develop rules to put the panel’s new powers into effect, but the program announced on Wednesday will allow it to be put in place more quickly.

“These temporary regulations address specific risks to U.S. critical technology while informing the development of final regulations that will fully implement Firrma,” Steven Mnuchin, the Treasury secretary, said, referring to the Foreign Investment Risk Review Modernization Act.

China has increasingly been looking to invest in high-tech industries in the United States. According to data from Public Citizen, a liberal advocacy group and think tank, 56 percent of Chinese investments in the United States last year were in industries that Beijing defines as “strategic,” such as aviation, biotechnology and new-energy vehicles — up from 25 percent in 2016.

But the administration’s trade measures have already chilled Chinese investment in the United States, which fell more than 90 percent from the first half of 2017 to the first half of 2018, to its lowest level in seven years, according to tracking by Rhodium Group.