Chuck Grassley: “I would like to dispel claims being put forward by some that the U.S.-Oman Free Trade Agreement will threaten U.S.…”

“I would like to dispel claims being put forward by some that the U.S.-Oman Free Trade Agreement will threaten U.S. national security. These critics of the agreement claim that it will give foreign port operators an absolute right to establish or acquire operations to run port facilities in the United States. They contend that, in this way, the U.S.-Oman Free Trade Agreement could harm our national security. These claims are just plain wrong. First of all, the U.S.-Oman Free Trade Agreement provides no new rights for Omanis or others to supply port related services in the United States. Omani companies are presently able to supply such services. The Oman agreement simply mirrors current U.S. law. So it is incorrect for anyone to claim that this trade agreement creates new rights for Omanis or others to contract with U.S. port owners to perform port services. In addition, U.S.--law specifically the Exon-Florio amendment to the Defense Production Act of 1950--authorizes the President to block foreign investment that would threaten our national security, including investments in port operations. The President delegates the authority to monitor and review foreign investments to the Committee on Foreign Investment in the United States, or CFIUS. This free-trade agreement will not change the process of CFIUS in reviewing proposed investment in the United States.…”