US SB2861

Directs the U.S. Trade Representative to prioritize alignment on foreign investment review with Canada and Mexico during the next USMCA joint review

Advocates for Canada and Mexico to establish foreign investment screening frameworks similar to the Committee on Foreign Investment in the United States (CFIUS) under the Defense Production Act

Calls for creating a coordination mechanism among USMCA countries to address shared national security threats from investments by nonmarket economy countries, specifically targeting China

Requires the Trade Representative to coordinate with the Treasury and State Departments to provide technical assistance to USMCA partners, including expert advisers, training, grants, and study tours

Notes bilateral trade between the U.S. and each partner country reached approximately $1 trillion in 2024, supporting millions of jobs through North American supply chains