International Trade and Investment

Financial services are crucial to U.S. economic prosperity, helping fuel economic activity across all industries. Free and fair-trade and investment agreements promote U.S. economic growth and job creation by expanding opportunities for financial services firms to compete in overseas markets and better serve their clients while enhancing the flow of cross-border capital. Similarly, inbound investment by foreign financial institutions contributes to the vitality of the U.S. economy through direct investments and job creation.

SIFMA supports an open, rules based, global economy in which financial services can do its part to boost exports, investment and global economic growth. SIFMA believes that trade agreements should be comprehensive, broaden market access for financial services firms, and address issues specific to today’s economy in digital trade to enhance U.S. economic competitiveness in the 21st century. To that end, we encourage policymakers to: expand the free flow of goods and services around the world and maximize cross-border investment opportunities; coordinate regulatory approaches across borders to ensure a level playing field for domestic and international firms; and address the rise of impediments to the free flow of data.

U.S.-China Economic Relationship

The U.S.-China economic relationship is one of the most important in the world. SIFMA supports efforts to strengthen the U.S.-China economic relationship including by promoting further opening of China’s financial markets to U.S. and other non-Chinese participants . We encourage U.S. policymakers to prioritize: the elimination of equity caps on financial services firms invested in China; expanded market access for U.S. financial firms in China; and cybersecurity and agreements to avoid digital protectionism.

Financial Regulatory Cooperation

SIFMA believes that a major obstacle to enhanced trade and investment is uncoordinated and often divergent approaches to financial regulation. As such, we strongly support financial services regulatory dialogue and cooperation. Addressing cross-border regulatory issues through robust dialogues can reduce conflicting rules that add frictions to financial markets, enhance efficiency in cross-border trade and investment, and promote transparency in the rule-making process.

United States-Mexico-Canada Agreement (Trilateral Trade Deal)

SIFMA welcomes the news that the United States, Canada and Mexico have reached agreement on a trilateral trade and investment deal to succeed NAFTA. For the first time ever in a trade and investment agreement, provisions prohibiting data localization and improving the free flow of data across borders, which are so important to many of our members’ businesses, is protected. USMCA establishes a new gold standard for financial services within the context of a United States (U.S.) trade agreement. SIFMA and its members strongly supports swift passage of the agreement.

The UK’s Exit from the EU (Brexit)

Brexit has huge implications for the financial services industry, as the City of London is the preeminent financial capital of Europe. Together with our colleagues at the Association for Financial Markets in Europe (AFME) and Global Financial Markets Association (GFMA), SIFMA believes that phased implementation is crucial to ensure a smooth exit from the EU, so that firms have ample time to navigate and adapt to any institutional or legal changes underpinning well-established, inter-EU/UK trade and investment relationships. SIFMA also hopes to see market access between the UK and the rest of the EU maximized and is also enthusiastic about future financial services relationships between the U.S., UK and EU.

More International Trade and Investment Content

All Submissions Content

Back to International Trade and Investment