S. 2563 — what changed

changed Federal Interagency Investment Working Group—Foreign country of concern— The term Federal Interagency Investment Working Group means foreign country of concern has the Federal Interagency Investment Working Group established by Executive Order 13577 (75 Fed. Reg. 35715; relating to meaning given the establishment term in section 9901 of the SelectUSA Initiative).William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (15 U.S.C. 4651).

changed not organized under the laws of a foreign adversary; country of concern; and

changed not owned, controlled, owned by, controlled by, or otherwise subject to the influence of a foreign adversary.country of concern.

changed Trusted country— The term trusted country means a country that is not determined by the Secretary to be a foreign adversary country of the United States.concern.

changed promoting policies to ensure the United States remains the global leader in developing and deploying cutting-edge technologies, such as self-driving vehicle technology, artificial intelligence, the Internet of Things, quantum computing, and blockchain; and

changed promoting policies that maintain and expand resilient supply chains and reduce the dependence of the United States on supply chains from China;foreign countries of concern;

changed maintaining the commitment of the United States commitment to an open investment policy with private sector entities based in trusted countries encourages other countries to reciprocate and enables the United States to open new markets abroad for United States companies and their products;

changed while foreign direct investment by responsible private sector entities based in trusted countries can enhance the economic strength of the United States, policies regarding foreign direct investment should reflect security interests and should not disadvantage domestic investors or companies;interests;

changed foreign direct investment by companies or other entities owned, directed, supported, or influenced by the Chinese Communist Party a foreign country of concern is a threat to the security of the United States and merits an aggressive policy framework to protect the interests, jobs, intellectual property, and security of the United States.

changed In general— The Secretary and the Comptroller General of the United States, in consultation with the Federal Interagency Investment Working Group relevant interagency working groups and the heads of other relevant Federal departments and agencies, shall conduct an interagency review of the global competitiveness of the United States in attracting foreign direct investment from responsible private sector entities based in trusted countries that addresses key foreign trade barriers that firms in advanced technology sectors face in the global digital economy.

changed The unique challenges posed by foreign direct investment, particularly acquisitions, in the United States by State-owned state-owned or State-backed state-backed enterprises, especially from State-directed state-directed economies, including companies or other entities owned, directed, supported, or influenced by the Chinese Communist Party.foreign countries of concern.

changed Specific information on the prevalence of investments made by State-owned state-owned or State-backed state-backed enterprises, especially from State-directed state-directed economies, including companies or other entities owned, directed, supported, or influenced by the Chinese Communist Party, foreign countries of concern, with a particular focus on investments relating to manufacturing, services, trade (with an emphasis on digital trade), and jobs.

changed How trusted countries are dealing with the challenge of State-directed state-directed and State-supported state-supported investment from foreign countries of concern and whether there are opportunities to work with like-minded countries to address that challenge.

changed Innovative and noteworthy initiatives by State and local government governments to attract foreign investment from responsible private sector entities based in trusted countries.

changed Initiatives by other trusted countries to identify best practices for increasing global competitiveness in attracting foreign direct investment from responsible private sector entities based in other trusted countries.

changed The impact that protectionist policies by other countries, including forced data localization rules, forced localization of production, industrial subsidies, and the infringement of intellectual property rights, have on the advanced technology economy of the United States and the ability for of firms located in the United States to develop innovative technologies.technologies, especially when those policies arise from foreign countries of concern.

changed Report to Congress— Not later than 1 year after the date of enactment of this Act, the Secretary, in coordination with the Federal Interagency Investment Working Group relevant interagency working groups and the heads of other relevant Federal departments and agencies, shall submit to Congress a report on the findings of the review required under subsection (a) that includes recommendations for increasing the global competitiveness of the United States in attracting foreign direct investment from responsible private sector entities based in trusted countries in a manner that strengthens or maintains the security, labor, consumer, financial, or environmental protections of the United States.