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New US-Mexico agreement to monitor foreign investments comes as more Chinese money flows into Mexico

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.

autotldr Bot ,

This is the best summary I could come up with:

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.

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 sensitive data.”

White House National Security Council spokesman John Kirby told reporters that “we don’t ask countries to choose between the United States and China when it comes to economic opportunities or investment.”

In August, President Joe Biden signed an executive order to regulate high-tech U.S.-based investments going toward China.

Biden and China’s president, Xi Jinping, met in November and pledged to stabilize their relationship as they showcased modest agreements to combat illegal fentanyl and reestablish military communications.

Earlier during her trip to Mexico, Yellen promoted her agency’s new strike force to help combat illicit fentanyl trafficking as the U.S. and China step up efforts to stop the movement of the powerful opioid and drug-making materials into the United States.

The original article contains 606 words, the summary contains 173 words. Saved 71%. I’m a bot and I’m open source!

naturalgasbad ,

Mexico, as the US continues to export inflation into their country:

Mexico needs more independence, not more reliance on foreign powers.

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