Bill > HR6707

This bill, titled the CFIUSMCA Act, directs the United States Trade Representative to prioritize aligning foreign investment review processes among the United States, Mexico, and Canada during the next joint review under the United States-Mexico-Canada Agreement (USMCA). The bill emphasizes the close economic ties between these North American partners and the importance of robust foreign investment review mechanisms for collective national security. Specifically, it calls for advocating that each USMCA country implement a framework for reviewing foreign investments for national security risks similar to the one used by the Committee on Foreign Investment in the United States (CFIUS), which is overseen by the Secretary of the Treasury and the Secretary of State. The goal is to establish a mechanism for these countries to coordinate and share information on threats from investments in strategically important economic sectors and critical infrastructure, thereby enhancing communication, cooperation, and the development of consistent screening practices. The bill also includes provisions for providing technical assistance to Mexico and Canada to help them establish or modify their investment review frameworks.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6707/all-info