Global Investment in American Jobs Act of 2023

Subjects: Foreign Trade and International Finance, Asia, China, Competitiveness, trade promotion, trade deficits, Congressional oversight, Government information and archives, Government studies and investigations, U.S. and foreign investments

Summary:  <p><b>Global Investment in American Jobs Act of 2023</b></p> <p>This bill requires the Department of Commerce and the Government Accountability Office to 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 and addressing foreign trade barriers that firms in advanced technology sectors face in the global digital economy.</p> <p>Among other elements, the review shall include an assessment of (1) the current economic impact of foreign direct investment in the United States, (2) trends in global cross-border investment and data flows, (3) federal government policies that facilitate foreign direct investment, and (4) the adequacy of federal government efforts to encourage and facilitate foreign direct investment in the United States.</p> <p>Commerce must report the findings of such review and include recommendations for increasing the global competitiveness of the United States in attracting foreign direct investment.</p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 813 Introduced in House (IH)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                H. R. 813

To direct the Secretary of Commerce, in coordination with the heads of 
    other relevant Federal departments and agencies, to conduct an 
 interagency review of and report to Congress on ways to increase the 
   global competitiveness of the United States in attracting foreign 
                           direct investment.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 2023

  Mr. Pence introduced the following bill; which was referred to the 
                    Committee on Energy and Commerce

_______________________________________________________________________

                                 A BILL


 
To direct the Secretary of Commerce, in coordination with the heads of 
    other relevant Federal departments and agencies, to conduct an 
 interagency review of and report to Congress on ways to increase the 
   global competitiveness of the United States in attracting foreign 
                           direct investment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Global Investment in American Jobs 
Act of 2023''.

SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) the ability of the United States to attract foreign 
        direct investment from responsible private-sector entities 
        based in trusted countries is directly linked to the long-term 
        economic prosperity, global competitiveness, and security of 
        the United States;
            (2) it is a top national priority to enhance the global 
        competitiveness, economic prosperity, and security of the 
        United States by--
                    (A) removing unnecessary barriers to foreign direct 
                investment from responsible private-sector entities 
                based in trusted countries and the jobs that such 
                investment creates throughout the United States;
                    (B) promoting policies to ensure the United States 
                remains the premier global destination to invest, hire, 
                innovate, provide services, and manufacture products;
                    (C) 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, Internet of 
                Things, quantum computing, blockchain; and
                    (D) promoting policies that maintain and expand 
                resilient supply chains and reduce the dependence of 
                the United States on supply chains from China;
            (3) maintaining the United States commitment to an open 
        investment policy with private-sector entities based in trusted 
        countries encourages other countries to reciprocate and enable 
        the United States to open new markets abroad for United States 
        companies and their products;
            (4) while foreign direct investment by responsible private-
        sector entities based in trusted countries can enhance the 
        United States economic strength, policies regarding foreign 
        direct investment should reflect security interests and should 
        not disadvantage domestic investors or companies;
            (5) United States efforts to attract foreign direct 
        investment from responsible private-sector entities based in 
        trusted countries should be consistent with efforts to maintain 
        and improve domestic standard of living;
            (6) as digital information becomes increasingly important 
        to the United States economy and the development of new 
        technologies and services that will be crucial to the country's 
        competitiveness in the 21st century global economy, barriers 
        including data localization and infringement of intellectual 
        property rights must be further addressed; and
            (7) foreign direct investment by companies or other 
        entities owned, directed, supported, or influenced by the 
        Chinese Communist Party is a threat to U.S. security and merits 
        an aggressive policy framework to protect U.S. interests, jobs, 
        intellectual property, and security.

SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW.

    (a) Review.--The Secretary of Commerce and the Comptroller General 
of the Government Accountability Office, in consultation with the 
Federal Interagency Investment Working Group established by Executive 
Order 13577 and in consultation with 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 and addressing key foreign trade barriers 
that firms in advanced technology sectors face in the global digital 
economy.
    (b) Specific Matters To Be Included.--The review conducted pursuant 
to subsection (a) shall include a review of the following:
            (1) The current economic impact of foreign direct 
        investment in the United States, with particular focus on 
        manufacturing, services, trade (with an emphasis on digital 
        trade), and U.S. jobs.
            (2) Trends in global cross-border investment and data flows 
        and the underlying factors for such trends.
            (3) Federal Government policies that facilitate foreign 
        direct investment attraction and retention from responsible 
        private-sector entities based in trusted countries.
            (4) Foreign direct investment as compared to direct 
        investment by domestic entities.
            (5) Foreign direct investment that takes the form of 
        greenfield investment as compared to foreign direct investment 
        relating to merger and acquisition activity.
            (6) The unique challenges posed by foreign direct 
        investment, particularly acquisitions, in the United States by 
        State-owned or State-backed enterprises, especially from State-
        directed economies, including companies or other entities 
        owned, directed, supported, or influenced by the Chinese 
        Communist Party.
            (7) Specific information on the prevalence of investments 
        made by State-owned or State-backed enterprises, especially 
        from State-directed economies, including companies or other 
        entities owned, directed, supported, or influenced by the 
        Chinese Communist Party, with a particular focus on investments 
        relating to manufacturing, services, trade (with an emphasis on 
        digital trade), and jobs.
            (8) How other trusted countries are dealing with the 
        challenge of State-directed and State-supported investment and 
        whether there are opportunities to work with like-minded 
        nations to address such challenge.
            (9) Ongoing Federal Government efforts to improve the 
        investment climate and facilitate greater levels of foreign 
        direct investment in the United States from responsible 
        private-sector entities based in trusted countries.
            (10) Innovative and noteworthy initiatives by State and 
        local government to attract foreign investment from responsible 
        private-sector entities based in trusted countries.
            (11) Initiatives by other countries to identify best 
        practices for increasing global competitiveness in attracting 
        foreign direct investment from responsible private-sector 
        entities based in trusted countries.
            (12) 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 United States located firms to develop innovative 
        technologies.
            (13) Other barriers to the ability of the United States to 
        compete globally in an increasingly connected and digital 
        global economy, including, the use of technical barriers to 
        trade, country-specific standards for technology products and 
        digital services.
            (14) The adequacy of efforts by the Federal Government to 
        encourage and facilitate foreign direct investment in the 
        United States.
            (15) Efforts by the Chinese Communist Party to circumvent 
        existing laws to gain access to U.S. markets, foreign direct 
        investment responsible private-sector entities based in trusted 
        countries, or intellectual property.
    (c) Limitation.--The review conducted pursuant to subsection (a) 
shall not address laws or policies relating to the Committee on Foreign 
Investment in the United States.
    (d) Public Comment.--Before--
            (1) conducting the review pursuant to subsection (a), the 
        Secretary shall publish notice of the review in the Federal 
        Register and shall provide an opportunity for public comment on 
        the matters to be covered by the review; and
            (2) the submission of the report pursuant to subsection 
        (e), the Secretary shall publish the proposed findings and 
        recommendations in the Federal Register and shall provide an 
        opportunity for public comment.
    (e) Report to Congress.--Not later than one year after the date of 
the enactment of this Act, the Secretary, in coordination with the 
Federal Interagency Investment Working Group and the heads of other 
relevant Federal departments and agencies, shall submit to Congress a 
report on the findings of the review required pursuant to subsection 
(a) and include 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.
    (f) Definitions.--In this Act:
            (1) Responsible private-sector entity.--The term 
        ``responsible private-sector entity'' means an entity that the 
        Secretary of Commerce determines is--
                    (A) not organized under the laws of a foreign 
                adversary; and
                    (B) not owned, controlled, or otherwise subject to 
                the influence of, a foreign adversary.
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of Commerce.
            (3) Trusted country.--The term ``trusted country'' means a 
        country that is not determined by the Secretary of Commerce to 
        be a of the United States.
                                 &lt;all&gt;
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