This bill directs the Secretary of Commerce, working with other federal agencies and the Comptroller General, to carry out an interagency review and report to Congress within 1 year after enactment. The review will examine how the United States can be more competitive in attracting foreign direct investment from "responsible private sector entities" based in "trusted countries." The bill defines those terms and limits the review so it does not address laws or policies relating to the Committee on Foreign Investment in the United States (CFIUS).
The review must cover many topics, including the economic impact of foreign investment on manufacturing, services, trade, jobs, trends in cross-border investment and data flows, federal policies that help attract investment, comparisons of foreign vs domestic investment, greenfield investment versus mergers and acquisitions, and challenges from state-owned or state-backed enterprises (with particular reference to entities influenced by the Chinese Communist Party). It also must look at how other trusted countries handle these issues, state and local efforts to attract investment, and the effect of protectionist policies such as forced data localization, forced localization of production, industrial subsidies, and intellectual property infringement. Before starting the review and before finalizing the report, the Secretary must publish notices in the Federal Register and allow public comment.
The bill requires a federal study and a report with recommendations to Congress about attracting foreign investment from trusted countries. It aims to identify barriers businesses face in the digital and advanced-technology economy and to suggest steps the U.S. could take. The bill itself does not change rules or create new programs; it only requires a review and recommendations. The report is due within one year after the bill becomes law.
No publicly available information.
The bill's "Sense of Congress" says attracting foreign direct investment from responsible private sector entities in trusted countries helps long-term economic prosperity, jobs, and U.S. competitiveness. It calls for removing unnecessary barriers to such investment, keeping the United States as a top place to invest and innovate, supporting leadership in technologies like AI and quantum computing, strengthening supply chains and reducing dependence on China, and addressing barriers such as data localization and intellectual property infringement. The sense of Congress also states that investment by entities owned or influenced by the Chinese Communist Party is a security concern that requires an aggressive policy approach.
No publicly available information.