US, Mexico to Cooperate on Investment Screening to Counter China

The Biden administration announced on Thursday a new agreement with Mexico to prevent countries such as China from investing in Mexican companies in an effort to get around 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. The new agreement aims to strengthen supply chains and ensure national security in critical industries. “Both countries benefit when they work together to guard against foreign investments that pose national security risks,” Ms. Yellen said in a statement. “This engagement is further evidence of the close partnership between our two countries, not only on matters of trade but also on critical issues of national security.”...