America Selling Out: Foreign Control of US Corporate Assets

Statistics from the Department of Commerce show that America spends nearly 1 out of 4 dollars directly on imported manufactured goods.

In addition, much of the production that originates in America is owned or controlled by a foreign parent.

American industry purchased by foreign interests has reached truly staggering and alarming levels. Consider some of the potential consequences:

• Reduced ability to negotiate with foreign countries - control over US jobs and tax base
• Increased ease with which foreign countries can influence US government and public opinion based on their tax dollars, job creation, and marketing
• Removal of control over precious assets and trade secrets
• Potential defense risk associated with control of critical infrastructure industries in foreign hands

Below is a list of selected US industries and foreign control ranked by assets. These statistics come from the latest available IRS report (published in Q4 2004) on the 2001 tax year.

Percent of Assets of Active US Corporations Owned by Foreign Controlled US Corporations - Selected major industries shown for tax year 2001.

Foreign Control of US Industry

Source: Internal Revenue Service tax statistics reports on 2001 RETURNS OF ACTIVE CORPORATIONS WITH 50 PERCENT OR MORE FOREIGN OWNERSHIP and 2001 RETURNS OF ACTIVE CORPORATIONS

Notes:

1. Foreign control means a corporation with 50% or more foreign ownership.

2. Percentages reflect corporate ownership of assets - e.g. 100% would represent 100% control of assets for a particular industry.

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