Bipartisan Bill Directs USTR to Push CFIUS-Like Review in Mexico, Canada
Sen. Catherine Cortez Masto, D-Nev., and Sen. Dave McCormick, R-Pa., introduced a bill last week to direct the Office of the U.S. Trade Representative to prioritize convincing Canada and Mexico to institute a foreign investment review board similar to the Committee on Foreign Investment in the United States, or CFIUS.
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U.S. Trade Representative Jamieson Greer has said in the past that he doesn't want China free-riding on USMCA, but it's not clear whether he was solely focused on Chinese inputs in Mexican or Canadian manufactured goods, or whether Chinese-headquartered companies operating in North America are also something he wants to restrict (see 2502060049 and 2505190051).
In a press release, Cortez Masto said, "As Communist China attempts to expand its influence worldwide, it becomes even more important that America and its neighbors have one unified plan to combat their efforts."
"The Chinese Communist Party has made no secret of its ambition to dominate critical technologies and key infrastructure in our backyard," McCormick said in the release. "Canada and Mexico are Pennsylvania and America’s top trading partners. We need a common approach with our neighbors to protect our economies from harmful foreign investment. This must be a top priority during the USMCA joint review."