Bill Would Protect U.S. Corporate Interests Abroad

Congressman August Pfluger (R-Texas) introduced the Defending American Property Abroad Act, a crucial piece of legislation aimed at protecting American companies operating abroad, particularly in the Western Hemisphere.

The need for this legislation has been underscored by recent actions taken by the Mexican government, which threaten the property rights of American companies, a news release said. For example, President Andrés Manuel López Obrador’s plan to seize control of a quarry and port owned by Vulcan Materials Co. in Mexico poses a direct threat to American economic interests.

“American companies operating abroad should not have to fear arbitrary government actions that undermine their property rights,” Pfluger said in the release. “The Defending American Property Abroad Act will ensure that such actions do not go unchecked and that American businesses are protected from unjust expropriation. The protection of American property rights abroad is essential for fostering economic growth and maintaining our national security. I urge my colleagues in Congress to support this critical legislation and send a clear message that the United States will not tolerate unjust actions against American companies.”

Key provisions of the bill include:

  • Prohibiting trade partners in the Western Hemisphere from engaging in certain activities, such as docking vessels and importing goods, if they have expropriated or otherwise seized property owned by American entities.
  • Requiring the Secretary of Homeland Security to designate prohibited properties and provide regular reports to Congress on enforcement efforts.
  • Mandating reports from various agencies on the economic and national security implications of actions taken by foreign trade partners.

The Defending American Property Abroad Act has garnered bipartisan support with original cosponsors Representatives Terri Sewell (D-Ala.), Jerry Carl (R-Ala.), Robert B. Aderholt (R-Ala.), Salud Carbajal (D-Calif.), Barry Moore (R-Ala.), Brian Mast (R-Fla.), Gary J. Palmer (R-Ala.), and Vicente Gonzalez (D-Texas).

Related posts