New US-Mexico agreement to monitor foreign investments comes as more Chinese money flows into Mexico
The United States and Mexico have agreed to monitor foreign investments and regularly share information about the screening process
MEXICO CITY — As more Chinese money flows into Mexico, the United States and Mexico on Thursday agreed to monitor foreign investments and regularly share information about the screening process.
The U.S. is becoming “more deeply integrated with Mexico,” Treasury Secretary Janet Yellen said at a news conference in Mexico City. “We want to see further deepening of our economic relationship with respect to our supply chains, supply chain resilience, and we think it’s important to be somewhat more coordinated than we have been when it comes to investment screening.”
The U.S. wants to prevent Chinese purchases of sensitive American technology that could be accessed through other U.S. trading partners. The U.S.-Mexico agreement may help achieve that goal.
“Our focus in talking to Mexico is not just China-focused. It is the general belief that it is important to make sure there are not national security concerns that are implicated in any foreign investments,” Yellen said.
“This engagement is further evidence of the close partnership between our two countries, not only on matters of trade but also on critical issues of national security,” she said.
The U.S. is Mexico’s top trading partner, with bilateral trade reaching more than $850 billion in 2022. China has increased investments in Mexican companies in the past few years and is the fastest-growing source of foreign investment in Mexico.
The U.S. Treasury Department said the new agreement addresses “national security risks that can arise from certain foreign investment, particularly in certain technologies, critical infrastructure, and
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