Jackson Purchase News

WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered remarks on the Senate floor regarding foreign investments in American companies.

“I've noted frequently that America’s resolve and willingness to lead are being tested by a dangerous world. How we respond has everything to do with preserving the peace, prosperity, and security America and our allies have enjoyed for decades,” McConnell stated.

He emphasized the importance of trade for American workers and jobs, noting that its benefits extend beyond exports of goods, services, ideas, and values. “Trade is a two-way street. When we engage in the global market, we open our doors to new sources of economic strength… To lower prices and more choices... And to good-paying jobs from foreign companies that set up shop here at home.”

McConnell highlighted America's status as the top destination for foreign business investment over the past 12 years. He provided examples from Kentucky: Toyota's plant in Georgetown supports nearly 10,000 jobs; a Spanish-owned steel manufacturer in Carroll County supports nearly 1,600 manufacturing jobs; and a Swedish manufacturer in Owensboro will create close to 500 jobs.

“In Kentucky alone, businesses from 33 foreign nations support over 116,000 jobs,” he said. “These jobs aren't just benefiting the biggest cities either. Roughly 60 percent of all counties in Kentucky are home to at least one international business.”

McConnell warned against turning away from global engagement: “Turning our backs on the world means signaling that we're closed for business.” He cautioned against barriers to foreign investment which could harm local communities.

“This isn’t an appeal to the naïve globalism of the 1990s,” he clarified. Instead, he advocated for working closely with allies to preserve free trade and protect critical supply chains.

“When friends and allies invest in the U.S. economy and likewise when American companies invest in theirs, we drive growth, boost paychecks, and increase American-made exports,” McConnell concluded.

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