#aah? ,,congress  #a/ ,session  ,h4 ,r4 
#hac  ,,an ,,act  ,to direct ! ,secret>y
 ( ,comm]ce1 9 coord9ation ) ! heads (  
o!r relevant ,f$]al dep>tm5ts & ag5cies1
 to conduct an int]ag5cy review ( &     
report to ,congress on ways to increase 
! global competitiv5ess ( ! ,unit$      
,/ates 9 attract+ =eign direct inve/m5t4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,global ,inve/m5t 9 ,am]ican ,jobs  
,act ( #bjbc4  #b4 ,s5se ( ,congress ,x 
is ! s5se ( ,congress t--  7#a7 !       
ability ( ! ,unit$ ,/ates to attract    
=eign direct inve/m5t f responsible     
private-sector entities bas$ 9 tru/$    
c\ntries is directly l9k$ to ! long-t]m 
economic prosp]ity1 global              
competitiv5ess1 & security ( ! ,unit$   
,/ates2  7#b7 x is a top national       
priority to enhance ! global            
competitiv5ess1 economic prosp]ity1 &   
security ( ! ,unit$ ,/ates by--  7,a7   
remov+ unnecess>y b>ri]s to =eign direct
 inve/m5t f responsible private-sector  
entities bas$ 9 tru/$ c\ntries & ! jobs 

t su* inve/m5t creates ?r\gh\t ! ,unit$ 
,/ates2  7,b7 promot+ policies to ensure
 ! ,unit$ ,/ates rema9s ! premi] global 
de/9ation to inve/1 hire1 innovate1     
provide s]vices1 & manufacture products2
  7,c7 promot+ policies to ensure !     
,unit$ ,/ates rema9s ! global lead] 9   
develop+ & deploy+ cutt+-edge           
te*nologies1 su* z self-driv+ vehicle   
te*nology1 artificial intellig5ce1      
,int]net ( ,?+s1 quantum comput+1       
block*a92 &  7,d7 promot+ policies t    
ma9ta9 & exp& resili5t supply *a9s &    
r$uce ! dep5d5ce ( ! ,unit$ ,/ates on   
supply *a9s f ,*9a & o!r =eign          
adv]s>ies2  7#c7 ma9ta9+ ! ,unit$ ,/ates
 commitm5t to an op5 inve/m5t policy )  
private-sector entities bas$ 9 tru/$    
c\ntries enc\rages o!r c\ntries to      
reciprocate & enable ! ,unit$ ,/ates to 
op5 new m>kets abroad = ,unit$ ,/ates   
companies & _! products2  7#d7 :ile     
=eign direct inve/m5t by responsible    
private-sector entities bas$ 9 tru/$    
c\ntries c enhance ! ,unit$ ,/ates      

economic /r5g?1 policies reg>d+ =eign   
direct inve/m5t %\ld reflect security   
int]e/s & %\ld n disadvantage dome/ic   
inve/ors1 companies1 or ! work=ce2  7#e7
 ,unit$ ,/ates ef=ts to attract =eign   
direct inve/m5t f responsible           
private-sector entities bas$ 9 tru/$    
c\ntries %\ld be consi/5t ) ef=ts to    
ma9ta9 & improve ! dome/ic /&>d-(-liv+1 
includ+ = ! work=ce2  7#f7 z digital    
in=mation becomes increas+ly important  
to ! ,unit$ ,/ates economy & !          
developm5t ( new te*nologies & s]vices t
 w be crucial to ! c\ntry's             
competitiv5ess 9 ! #ba/ c5tury global   
economy1 b>ri]s includ+ data            
localization & infr+em5t ( intellectual 
prop]ty rights mu/ be fur!r address$2   
7#g7 =eign direct inve/m5t by companies 
or o!r entities own$1 direct$1 support$1
 or influ5c$ by ! ,*9ese ,communi/ ,p>ty
 is a ?reat to ,unit$ ,/ates security & 
m]its an aggressive policy framework to 
protect ,unit$ ,/ates int]e/s1 jobs1    
intellectual prop]ty1 & security2  7#h7 

=eign direct inve/m5t f any s\rce %\ld n
 result 9 ! net loss ( ,unit$ ,/ates    
economic activity1 productive           
capabilities1 & supply *a9 resili5ce2 & 
7#i7 =eign direct inve/m5t f any s\rce  
%\ld /r5g!n ,unit$ ,/ates security &    
support ,unit$ ,/ates work=ce1 heal? &  
safety1 consum]1 & f9ancial /&>ds4  #c4 
,=eign direct inve/m5t review  7a7      
,review ,! ,secret>y1 9 consultation ) !
 ,f$]al ,int]ag5cy ,inve/m5t ,work+     
,gr\p e/abli%$ pursuant to ,executive   
,ord] ,no4 #acegg 7#gf ,f$4 ,reg4       
#cegae2 relat+ to e/abli%m5t ( !        
,select,u,s,a ,initiative7 & 9          
consultation ) ! heads ( o!r relevant   
ag5cies1 %all conduct an int]ag5cy      
review ( ! global competitiv5ess ( !    
,unit$ ,/ates 9 attract+ =eign direct   
inve/m5t f responsible private-sector   
entities bas$ 9 tru/$ c\ntries &        
address+ key =eign trade b>ri]s t firms 
9 advanc$ te*nology sectors face 9 !    
global digital economy4  7b7 ,specific  
,matt]s ,to ,be ,includ$ ,! review      

conduct$ pursuant to subsection 7a7 %all
 include a review ( ! foll[+3 7#a7 ,!   
economic impact ( =eign direct inve/m5t 
9 ! ,unit$ ,/ates1 ) p>ticul> focus on  
manufactur+1 s]vices1 trade 7) an       
emphasis on digital trade71 & ,unit$    
,/ates jobs4  7#b7 ,tr5ds 9 global      
cross-bord] inve/m5t & data fl[s & !    
und]ly+ factors = su* tr5ds4  7#c7      
,f$]al ,gov]nm5t policies1 t facilitate 
=eign direct inve/m5t attraction &      
ret5tion f responsible private-sector   
entities bas$ 9 tru/$ c\ntries4  7#d7   
,=eign direct inve/m5t z comp>$ to      
direct inve/m5t by dome/ic entities4    
7#e7 ,=eign direct inve/m5t t takes ! =m
 ( gre5field inve/m5t z comp>$ to =eign 
direct inve/m5t relat+ to m]g] &        
acquisition activity4  7#f7 ,! unique   
*all5ges pos$ by =eign direct inve/m5t1 
p>ticul>ly acquisitions1 9 ! ,unit$     
,/ates by ,/ate-own$ or ,/ate-back$     
ent]prises1 especially f ,/ate-direct$  
economies1 includ+ companies or o!r     
entities own$1 direct$1 support$1 or    

influ5c$ by ! ,*9ese ,communi/ ,p>ty4   
7#g7 ,specific in=mation on ! preval5ce 
( inve/m5ts made by ,/ate-own$ or       
,/ate-back$ ent]prises1 especially f    
,/ate-direct$ economies1 includ+        
companies or o!r entities own$1 direct$1
 support$1 or influ5c$ by ! ,*9ese      
,communi/ ,p>ty1 ) a p>ticul> focus on  
inve/m5ts relat+ to manufactur+1        
s]vices1 trade 7) an emphasis on digital
 trade71 & jobs4  7#h7 ,h[ o!r tru/$    
c\ntries are deal+ ) ! *all5ge1 includ+ 
scre5+ = & prev5t+ m>ket di/ort+        
inve/m5ts1 ( ,/ate-direct$ &            
,/ate-support$ inve/m5t & :e!r !re are  
opportunities to "w ) l-m9d$ nations to 
address su* *all5ge4  7#i7 ,ongo+ ,f$]al
 ,gov]nm5t ef=ts to improve ! inve/m5t  
climate & facilitate great] levels (    
=eign direct inve/m5t 9 ! ,unit$ ,/ates 
f responsible private-sector entities   
bas$ 9 tru/$ c\ntries4  7#aj7           
,innovative & notewor?y initiatives by  
,/ate & local gov]nm5t to attract =eign 
inve/m5t f responsible private-sector   

entities bas$ 9 tru/$ c\ntries4  7#aa7  
,initiatives by o!r c\ntries to id5tify 
be/ practices = increas+ global         
competitiv5ess 9 attract+ =eign direct  
inve/m5t f responsible private-sector   
entities bas$ 9 tru/$ c\ntries4  7#ab7  
,! impact t protectioni/ policies by o!r
 c\ntries1 includ+ =c$ data localization
 rules1 =c$ localization ( production1  
indu/rial subsidies1 & ! infr+em5t (    
intellectual prop]ty rights1 h on !     
advanc$ te*nology economy ( ! ,unit$    
,/ates & ! ability = ,unit$ ,/ates      
locat$ firms to develop innovative      
te*nologies4  7#ac7 ,o!r b>ri]s to !    
ability ( ! ,unit$ ,/ates to compete    
globally 9 an increas+ly connect$ &     
digital global economy1 includ+ ! use ( 
te*nical b>ri]s to trade 7su* z         
c\ntry-specific /&>ds = te*nology       
products & digital s]vices74  7#ad7 ,!  
adequacy ( ef=ts by ! ,f$]al ,gov]nm5t  
to enc\rage & facilitate =eign direct   
inve/m5t 9 ! ,unit$ ,/ates4  7#ae7      
,ef=ts by ! ,*9ese ,communi/ ,p>ty to   

circumv5t exi/+ laws to ga9 access to   
,unit$ ,/ates m>kets1 =eign direct      
inve/m5t responsible private-sector     
entities bas$ 9 tru/$ c\ntries1 or      
intellectual prop]ty4  7#af7 ,! ext5t to
 :i* =eign direct inve/m5t f any s\rce1 
includ+ ! ,*9ese ,communi/ ,p>ty1       
results 9 displacem5t1 (f%or+1 or       
outs\rc+1 includ+ ! impact ( su*        
inve/m5t on supply *a9s4  7c7           
,limitation ,! review conduct$ pursuant 
to subsection 7a7 may n address laws or 
policies relat+ to ! ,committee on      
,=eign ,inve/m5t 9 ! ,unit$ ,/ates4  7d7
 ,public ,comm5t  7#a7 ,review ,n soon] 
?an #fj days be=e ! date on :i* ! review
 is comm5c$ pursuant to subsection 7a71 
! ,secret>y %all publi% notice ( !      
review 9 ! ,f$]al ,regi/] & %all provide
 an opportunity = public comm5t on !    
matt]s to be cov]$ by ! review4  7#b7   
,report ,n soon] ?an #fj days be=e !    
date on :i* ! report is submitt$        
pursuant to subsection 7e71 ! ,secret>y 
%all publi% ! propos$ f9d+s &           

recomm5dations 9 ! ,f$]al ,regi/] & %all
 provide an opportunity = public comm5t4
  7e7 ,report to congress ,n lat] ?an "o
 ye> aft] ! date ( ! enactm5t ( ?is     
,act1 ! ,secret>y1 9 coord9ation ) !    
,f$]al ,int]ag5cy ,inve/m5t ,work+ ,gr\p
 & ! heads ( o!r relevant ag5cies1 %all 
submit to ,congress & ! ,comptroll]     
,g5]al a report on ! f9d+s ( ! review   
requir$ pursuant to subsection 7a7 &    
include recomm5dations = increas+ !     
global competitiv5ess ( ! ,unit$ ,/ates 
9 attract+ =eign direct inve/m5t f      
responsible private-sector entities bas$
 9 tru/$ c\ntries 9 a mann] t /r5g!ns or
 ma9ta9s ! security1 work=ce1 consum]1  
or f9ancial protections ( ! ,unit$      
,/ates4  7f7 ,comptroll] ,g5]al ,review 
,n lat] ?an "o ye> aft] ! date on :i* ! 
,comptroll] ,g5]al receives ! report    
pursuant to subsection 7e71 !           
,comptroll] ,g5]al %all submit to       
,congress a review & assessm5t ( !      
report4  7g7 ,def9itions ,9 ?is ,act3   
7#a7 ,ag5cy ,! t]m ag5cy has ! mean+    

giv5 t t]m 9 section #eea ( title #e1   
,unit$ ,/ates ,code4  7#b7 ,=eign       
adv]s>y ,! t]m =eign adv]s>y has ! mean+
 giv5 t t]m 9 "p #g4d ( title #ae1 ,code
 ( ,f$]al ,regulations4  7#c7           
,responsible private-sector entity ,!   
t]m responsible private-sector entity   
means an entity t ! ,secret>y det]m9es  
is--  7,a7 n organiz$ "u ! laws ( a     
=eign adv]s>y2 &  7,b7 n own$1          
controll$1 or o!rwise subject to !      
influ5ce (1 a =eign adv]s>y4  7#d7      
,secret>y ,! t]m ,secret>y means !      
,secret>y ( ,comm]ce4  7#e7 ,/ate ,! t]m
 ,/ate means ea* ,/ate ( ! ,unit$       
,/ates1 ! ,di/rict ( ,columbia1 ea*     
commonweal?1 t]ritory1 or possession ( !
 ,unit$ ,/ates1 & ea* f$]ally recogniz$ 
,indian ,tribe4  7#f7 ,tru/$ c\ntry ,!  
t]m tru/$ c\ntry means a c\ntry or      
economy t is n det]m9$ by ! ,secret>y to
 be a =eign adv]s>y ( ! ,unit$ ,/ates4  
,pass$ ! ,h\se ( ,repres5tatives ,july  
#ag1 #bjbc4;,cl]k4