To establish the Foreign Investment Review Authority to determine whether foreign countries that have made investment commitments to the United States have complied with those commitments, and for other purposes.

If this passes, foreign investors and governments will face systematic U.S. government review of whether their publicly announced investment commitments materialize. Depending on how the Authority defines and enforces compliance, this could deter some foreign investment (raising capital costs for U.S. projects), strengthen enforcement of promises already made (increasing jobs and economic benefits in regions that negotiated deals), or create compliance burdens with uncertain economic effects. States and municipalities that have marketed themselves to foreign investors will gain a federal backstop for enforcement, but may also face pressure if the Authority finds non-compliance in their regions. The outcomes will depend critically on whether the Authority's findings trigger tariffs, sanctions, trade retaliation, or other consequences—none of which the bill text specifies.