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Strategic Objective
Promote free trade, open markets, and foreign investment opportunities
Strategic Objective
Overview
Foreign investment in the U.S. economy is vital to achieving balanced economic growth and creating jobs. Treasury works with the U.S. Trade Representative and other federal agency partners to pursue a strong international trade and investment agenda that will increase U.S. exports, help the U.S. economy grow, and support job creation.
As Chair of the Committee on Foreign Investment in the United States (CFIUS)[1], Treasury coordinates an interagency process to review certain foreign investments for potential national security concerns. Treasury’s work to help ensure a timely and efficient review process serves the dual purpose of helping secure the United States while maintaining an open investment climate.
[1] The Committee on Foreign Investment in the United States (CFIUS). Available at at http://www.treasury.gov/resource-center/international/Pages/Committee-on-Foreign-Investment-in-US.aspx.
Read Less...Progress Update
Leveraging multilateral mechanisms, Treasury made progress enhancing global economic growth prospects by securing commitments from the G-20 countries at the Brisbane Leaders’ Summit in November 2014 to boost near-term demand through comprehensive growth strategies and to establish the Global Infrastructure Hub to increase global investment. The plan’s emphasis on comprehensive growth strategies to boost demand over the near-term reflected an important U.S. policy priority. Additional commitments to boost growth have been secured through the G-20 process in 2015.
In addition, Treasury defined the policy framework for development finance for the next 15 years by successfully negotiating the adoption of the Addis Ababa Action Agenda at the Third International Conference on Financing for Development in July 2015. The conference provided a forum to promote a modern and updated approach to development finance, including a bold vision for achieving a prosperous, inclusive, and sustainable world free from extreme poverty. It also provided the financing framework for the 2030 Agenda for Sustainable Development adopted by world leaders in September 2015. The 2030 agenda includes 17 development goals in the areas of domestic resource mobilization, private sector investment, combatting illicit finance, sustainable infrastructure, improved data, maternal and child health, and others.
With the United States Trade Representative (USTR), Treasury co-leads the negotiation of financial services chapters of free trade agreements. In June 2015, Congress passed Trade Promotion Authority (TPA), which granted the President the authority to negotiate trade deals that will then be considered by Congress under an expedited approval process. Notable progress was made promoting free trade and open markets by reaching agreement on the largest regional trade accord in history, the Trans-Pacific Partnership (TPP) agreement, and by advancing the Transatlantic Trade and Investment Partnership and the broader U.S. trade agenda.
