US and Mexico Agree to Strengthen Investment Security Screening

Move aims to reduce national security risks amid influx of foreign investments, with focus not solely on China, says US Treasury Secretary Janet Yellen.

• US and Mexico have agreed to cooperate on strengthening the screening of foreign investments to reduce national security risks.
• The agreement aims to help Mexico develop a screening body similar to the US's Committee on Foreign Investment (CFIUS).
• The move comes amid a major influx of manufacturing investments in Mexico, raising concerns about potential backdoor access for countries like China to circumvent US export controls.
• US Treasury Secretary Janet Yellen insists that the investment screening talks with Mexico are not solely focused on China.
• Discussions also covered the integration of cross-border payment systems to enhance trade and investment benefits.

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