US should take a clue from Canada, Australia on free trade

The R Street Institute report says that, compared to peers like Canada and Australia, the United States is not especially hospitable to prospective foreign investors, particularly in critical sectors like energy. In particular, the Committee on Foreign Investments in the United States (CFIUS) imposes an “onerous application process” that can be daunting to prospective foreign investors.

While supportive of elevated scrutiny for investments by government-controlled entities — particularly those from hostile or corrupt states or with links to terrorism — the report authors argue that the system should be streamlined to be less adversarial and more transparent. For instance, while elevated scrutiny is appropriate for foreign investments in energy-related transportation, refining and related infrastructure, which are tied closely to security concerns, it should be easier to attract foreign capital to upstream resources and activities, like exploration and production.

Canada and Australia have similar foreign-investment consideration processes, yet have taken a less protectionist approach,” the authors wrote. “This has helped draw significant energy investment from foreign enterprises, bolstering resource development, energy security and job creation.


This entry was posted in : Australia Canada Foreign investments Trade policy USA

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