Overview

• 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.