Bill > HR7675

This bill, titled the Securing Partner Supply Chains Act, mandates the Secretary of State to establish an "Initiative on Foreign Investment Screening" within 180 days of the bill's enactment, which will operate for three years. This initiative aims to address national security risks that can arise from foreign investment, particularly concerning critical infrastructure, sensitive technology, supply chain vulnerabilities, or malign foreign influence, especially in countries that may lack robust screening processes. The initiative will be led by the Under Secretary for Economic Growth, Energy, and the Environment or their designee and will coordinate with other government agencies, the private sector, partner countries, and civil society. Its core duties include providing technical assistance, training, and advisory services to foreign countries on best practices for screening foreign investments, facilitating coordination to promote investment security standards, supporting the development of screening mechanisms in partner countries, assessing their progress, and conducting outreach to raise global awareness of investment security risks. The Secretary of State will also be required to submit annual reports to Congress detailing the initiative's activities, progress made by partner countries, emerging risks, and recommendations for future engagement. A "partner country" is defined as one with which the U.S. has a free trade or mutual defense agreement, or any other country the Secretary designates.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/7675/all-info