Bill > S2861

This bill directs the United States Trade Representative (USTR) to prioritize establishing a coordinated approach to foreign investment review among the United States, Mexico, and Canada during the next joint review of the United States-Mexico-Canada Agreement (USMCA). The bill recognizes that Canada and Mexico are the largest trading partners of the United States, with bilateral trade reaching approximately $1 trillion in 2024, and aims to strengthen North American supply chains and national security. Specifically, the USTR will advocate for each USMCA country to implement a legislative framework for reviewing foreign investments similar to the current U.S. process, with a particular focus on mitigating national security risks from investments by non-market economy countries like China. The bill calls for the USTR to coordinate with the Treasury and State Departments to provide technical assistance to USMCA countries, which may include expert advisers, training, grants, and study tours to help develop robust foreign investment review mechanisms. The ultimate goal is to create a more aligned and coordinated approach to screening foreign investments that could potentially threaten the national security of North American countries.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2861/all-info