Protecting the USMCA from Harmful Chinese Investment Act

S 2861, the "Protecting the USMCA from Harmful Chinese Investment Act," directs the U.S. Trade Representative to work with Canada and Mexico during their first joint review under the USMCA to adopt national security investment review frameworks similar to the U.S. CFIUS system. It specifically aims to align Canada and Mexico’s processes for reviewing foreign investments (especially from nonmarket economies like China) in critical sectors, to strengthen shared security coordination. The bill requires the Trade Representative to coordinate with Treasury and State to provide technical assistance - including training, expert advisors, and grants - to help Mexico and Canada establish these frameworks. This bill does not impose new restrictions but focuses on procedural alignment among USMCA partners to address shared security concerns.