US, Mexico to cooperate on strengthening security screening of investments
- Yellen told reporters she does not want to preclude China from injecting funds into Mexico or the US when there are no national security concerns
- US is promoting Mexico as a premier investment destination for US supply chains and wants to ensure a robust screening regime to handle the influx
The US Treasury on Thursday said it signed an agreement with Mexico’s finance ministry to cooperate on strengthening screening of foreign investments to enhance national security, including regularly sharing information on best practices.
The effort is aimed at helping Mexico develop a screening body similar to the Treasury-run Committee on Foreign Investment the US (CFIUS), which reviews purchases of American companies by foreign-owned entities and other inbound investments.
“Like our own investment screening regime, CFIUS, increased engagement with Mexico will help maintain an open investment climate while monitoring and addressing security risks, making both our countries safer,” US Treasury Secretary Janet Yellen said in announcing the memorandum of intent with Mexican Finance Minister Rogelio Ramirez de la O.
Ramirez also asked for help in fighting the flow of weapons from the United States into Mexico.
“On this side of the border we’re doing everything we can to detect and prevent (fentanyl from being sent to the United States),” he said. “So we have also asked for the same level of cooperation from the US with these (arms) shipments.”