Sponsors (2)
The bill seeks to attract and channel 'trusted' foreign investment and tighten screening to protect technology and supply chains, but does so by expanding Commerce's authority in ways that could limit investment from some countries, raise costs, and create regulatory uncertainty for firms.
Federal agencies (including the Commerce Department) get clearer definitions and explicit authority to identify and certify which foreign firms are restricted or trusted, improving consistent enforcement and speeding interagency decisions.
U.S. tech workers, small businesses, manufacturers, and local economies could gain more targeted foreign direct investment (FDI) in advanced-technology sectors, supporting job growth, innovation, and local investment.
Strengthening resilient supply chains and reducing reliance on risky foreign suppliers could improve product availability and national security for consumers and businesses.
Small businesses, some domestic investors, and financial firms may lose market access, contracts, or capital if firms with ties to listed countries are designated or if FDI is prioritized from 'trusted' countries, raising costs and reducing investment options.
Granting broad discretion to the Secretary of Commerce and adopting an aggressive screening framework could create regulatory uncertainty, slower deal approvals, and added compliance burdens for firms and banks.
Framing FDI policy as security-first could be used to restrict otherwise lawful foreign investment, potentially reducing job-creating capital inflows and harming businesses that rely on foreign capital.
Based on analysis of 8 sections of legislative text.
Introduced July 31, 2025 by Todd Young · Last progress March 24, 2026
Directs the Secretary of Commerce and the Government Accountability Office to lead an interagency review and report (within one year of enactment) on how the United States can better attract foreign direct investment (FDI) from private-sector entities in allied or "trusted" countries for advanced technology sectors while protecting U.S. security, labor, consumer, financial, and environmental standards. Sets definitions for key terms (trusted country, foreign country of concern, responsible private sector entity), states congressional priorities to remove unnecessary barriers to trusted-country investment and to guard against investment tied to countries of concern, and requires public notice and comment during the review process.