US, Mexico to Cooperate on Investment Screening to Counter China

The United States will help Mexico in enhancing its foreign investment review process by sharing best practices derived from the CFIUS.

U.S. Treasury Secretary Janet Yellen (L) participates in a bilateral meeting with Mexico's Secretary of Finance and Public Credit Rogelio Ramirez de la O at the Palacio Nacional in Mexico City on Dec. 7, 2023. Rodrigo Oropeza/AFP via Getty Images

The Biden administration announced on Dec. 7 an agreement with Mexico to prevent countries such as China from investing in Mexican companies as a way to circumvent U.S. sanctions and tariffs.

Treasury Secretary Janet Yellen announced the signing of a “Memorandum of Intent” between the two countries to form a bilateral working group to share technical information and best practices on foreign investment screening.