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 se-
curity of the United States by— 
(A) removing unnecessary barriers to for-
eign direct investment from responsible private- 
sector entities based in trusted countries and 
the jobs that such investment creates through-
out the United States; 
(B) promoting policies to ensure the 
United States remains the premier global des-
tination to invest, hire, innovate, provide serv-
ices, and manufacture products; 
(C) promoting policies to ensure the 
United States remains the global leader in de-
veloping and deploying cutting-edge tech-
nologies, such as self-driving vehicle technology, 
artificial intelligence, Internet of Things, quan-
tum computing, blockchain; and 
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(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 en-
tities 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 respon-
sible private-sector entities based in trusted coun-
tries can enhance the United States economic 
strength, policies regarding foreign direct investment 
should reflect security interests and should not dis-
advantage domestic investors or companies; 
(5) United States efforts to attract foreign di-
rect investment from responsible private-sector enti-
ties 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 de-
velopment of new technologies and services that will 
be crucial to the country’s competitiveness in the 
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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 influ-
enced by the Chinese Communist Party is a threat 
to U.S. security and merits an aggressive policy 
framework to protect U.S. interests, jobs, intellec-
tual property, and security. 
SEC. 3. FOREIGN DIRECT INVESTMENT REVIEW. 
(a) REVIEW.—The Secretary of Commerce and the 
Comptroller General of the Government Accountability Of-
fice, in consultation with the Federal Interagency Invest-
ment Working Group established by Executive Order 
13577 and in consultation with the heads of other relevant 
Federal departments and agencies, shall conduct an inter-
agency review of the global competitiveness of the United 
States in attracting foreign direct investment from respon-
sible private-sector entities based in trusted countries and 
addressing key foreign trade barriers that firms in ad-
vanced technology sectors face in the global digital econ-
omy. 
(b) SPECIFIC MATTERS TO BE INCLUDED.—The re-
view conducted pursuant to subsection (a) shall include 
a review of the following: 
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(1) The current economic impact of foreign di-
rect investment in the United States, with particular 
focus on manufacturing, services, trade (with an em-
phasis 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 di-
rect investment, particularly acquisitions, in the 
United States by State-owned or State-backed enter-
prises, especially from State-directed economies, in-
cluding companies or other entities owned, directed, 
supported, or influenced by the Chinese Communist 
Party. 
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(7) Specific information on the prevalence of in-
vestments made by State-owned or State-backed en-
terprises, especially from State-directed economies, 
including companies or other entities owned, di-
rected, supported, or influenced by the Chinese Com-
munist 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-sup-
ported investment and whether there are opportuni-
ties to work with like-minded nations to address 
such challenge. 
(9) Ongoing Federal Government efforts to im-
prove 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 invest-
ment 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 respon-
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