Title: Countering Economic Coercion Act of 2022
Policy area: Foreign Trade and International Finance

Summary:
Countering Economic Coercion Act of 2022
This bill authorizes the President to take certain actions to assist foreign trading partners affected by economic coercion. Economic coercion refers to actions or threats undertaken by a foreign adversary to restrain, obstruct, or manipulate trade, foreign aid, investment, or commerce with the intent to cause economic harm or influence sovereign political actions.
Specifically, the bill authorizes the President (upon a determination that a foreign trading partner is subject to economic coercion) to exercise specified authorities to support or assist the foreign trading partner. These authorities include, among others, decreasing duties or modifying tariff-rate quotas on imports from the foreign trading partner, requesting appropriations for foreign aid, and expediting export licensing decisions and regulatory processes.
The President must consult with Congress prior to exercising any authority. Additionally, the President must publish notice in the Federal Register related to the exercise of such authority.
Any determination of economic coercion must be revoked at the earliest of (1) two years from the date of determination, (2) upon a joint resolution of Congress, or (3) when the President revokes the determination.
The bill also directs the President to endeavor to coordinate with other foreign trading partners to broaden economic support for the foreign trading partner.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4514 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4514

   To grant certain authorities to the President to combat economic 
        coercion by foreign adversaries, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 13, 2022

 Mr. Young (for himself and Mr. Coons) introduced the following bill; 
which was read twice and referred to the Committee on Foreign Relations

_______________________________________________________________________

                                 A BILL


 
   To grant certain authorities to the President to combat economic 
        coercion by foreign adversaries, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Countering Economic Coercion Act of 
2022''.

SEC. 2. SENSE OF CONGRESS.

    The following is the sense of Congress:
            (1) Foreign adversaries are increasingly using economic 
        coercion to pressure, punish, and influence foreign trading 
        partners.
            (2) Economic coercion causes economic harm to foreign 
        trading partners and creates malign influence on the sovereign 
        political actions of foreign trading partners.
            (3) Economic coercion of foreign trading partners has 
        negative effects on the national security of the United States.
            (4) Economic coercion is often characterized by--
                    (A) arbitrary and discriminatory actions that run 
                counter to the rules-based international order;
                    (B) capricious and non-transparent actions taken 
                without due process afforded;
                    (C) intimidation or threats of punitive actions; 
                and
                    (D) informal actions that take place without 
                explicit government action.
            (5) Recent acts of economic coercion have included 
        instances in which foreign adversaries have--
                    (A) arbitrarily restricted transportation of 
                exports from a foreign trading partner to the foreign 
                adversary;
                    (B) acted in a capricious and non-transparent 
                manner to prevent or dissuade consumers from purchasing 
                imports from a foreign trading partner;
                    (C) enacted arbitrary technical barriers to trade 
                in goods and services in response to political actions 
                taken by a foreign trading partner;
                    (D) arbitrarily restricted market access or 
                otherwise limited the import of goods or services from 
                a foreign trading partner;
                    (E) arbitrarily restricted investment in or export 
                of goods or services to a foreign trading partner; and
                    (F) acted in a non-transparent manner to manipulate 
                a private entity with the intent of causing economic 
                harm to or influencing sovereign political actions of a 
                foreign trading partner.
            (6) Existing mechanisms for trade dispute resolution and 
        international arbitration are inadequate for responding to 
        economic coercion in a timely and effective manner as foreign 
        adversaries exploit plausible deniability and lengthy 
        processes.
            (7) The United States should provide material support to 
        foreign trading partners affected by economic coercion.
            (8) Responding to economic coercion will be most effective 
        when the United States provides relief to affected foreign 
        trading partners in coordination with allies and like-minded 
        countries.
            (9) Such coordination will further demonstrate broad 
        resolve against economic coercion.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Economic coercion.--The term ``economic coercion'' 
        means actions, measures, or threats undertaken by a foreign 
        adversary to restrain, obstruct, or manipulate trade, foreign 
        aid, investment, or commerce in an arbitrary, capricious, or 
        non-transparent manner with the intention to cause economic 
        harm or influence sovereign political actions.
            (2) Export; export administration regulations; in-country 
        transfer; reexport.--The terms ``export'', ``Export 
        Administration Regulations'', ``in-country transfer'', and 
        ``reexport'' have the meanings given those terms in section 
        1742 of the Export Control Reform Act of 2018 (50 U.S.C. 4801).
            (3) Foreign adversary.--The term ``foreign adversary'' has 
        the meaning given that term in section 8(c)(2) of the Secure 
        and Trusted Communications Networks Act of 2019 (47 U.S.C. 
        1607(c)(2)).
            (4) Foreign trading partner.--The term ``foreign trading 
        partner'' means a jurisdiction that is a trading partner of the 
        United States.

SEC. 4. DETERMINATION OF ECONOMIC COERCION.

    (a) In General.--If the President determines that a foreign trading 
partner is subject to economic coercion, the President may exercise any 
authority described in section 5(a) to support or assist the foreign 
trading partner in a manner proportionate to the economic coercion.
    (b) Information; Hearings.--To inform any determination or exercise 
of authority under subsection (a), the President may--
            (1) consult with the Secretary of State, the Secretary of 
        Commerce, the United States Trade Representative, and the heads 
        of other Federal agencies, as the President considers 
        appropriate;
            (2) seek information and advice from and consult with other 
        relevant officers of the United States; and
            (3) afford other interested parties an opportunity to 
        present relevant information and advice.
    (c) Consultation With Congress.--The President shall consult with 
Congress--
            (1) before exercising any authority under subsection (a); 
        and
            (2) regularly for the duration of the exercise of such 
        authority.
    (d) Notice.--Not later than 30 days after the date that the 
President determines that a foreign trading partner is subject to 
economic coercion or exercises any authority under subsection (a), the 
President shall publish in the Federal Register--
            (1) a notice of the determination or exercise of authority; 
        and
            (2) a description of the circumstances that led to such 
        determination or exercise of authority.

SEC. 5. AUTHORITIES TO ASSIST FOREIGN TRADING PARTNERS AFFECTED BY 
              ECONOMIC COERCION.

    (a) In General.--The authorities described in this subsection are 
the following:
            (1) With respect to goods imported into the United States 
        from a foreign trading partner subject to economic coercion by 
        a foreign adversary--
                    (A) the reduction or elimination of any duties; or
                    (B) the modification of tariff-rate quotas.
            (2) Requesting appropriations for foreign aid to the 
        foreign trading partner.
            (3) Expedited decisions with respect to the issuance of 
        licenses for the export or reexport to, or in-country transfer 
        in, the foreign trading partner of items subject to controls 
        under the Export Administration Regulations, consistent with 
        the Export Control Reform Act of 2018 (50 U.S.C. 4801 et seq.).
            (4) Expedited regulatory processes related to the 
        importation of goods and services into the United States from 
        the foreign trading partner.
            (5) Requesting the necessary authority and appropriations 
        for sovereign loan guarantees to the foreign trading partner.
            (6) The waiver of policy requirements (other than policy 
        requirements mandated by an Act of Congress) as necessary to 
        facilitate the provision of financing to support exports to the 
        foreign trading partner.
            (7) Requesting appropriations for loan loss reserves to 
        facilitate the provision of financing to support United States 
        exports to the foreign trading partner.
            (8) The exemption of financing provided to support United 
        States exports to the foreign trading partner from section 
        8(g)(1) of the Export-Import Bank Act of 1945 (12 U.S.C. 
        635g(g)(1)).
    (b) Coordination With Allies.--To broaden economic support for a 
foreign trading partner, the President shall endeavor to coordinate the 
exercise of the authorities described in subsection (a) with other 
foreign trading partners.

SEC. 6. REVOCATION OF DETERMINATION.

    (a) In General.--Any determination made by the President under 
section 4 shall be revoked on the earliest of--
            (1) the date that is 2 years after the date of such 
        determination;
            (2) the date of the enactment of a joint resolution 
        revoking the determination; or
            (3) the date on which the President issues a proclamation 
        revoking the determination.
    (b) Termination of Authorities.--Any authority described in section 
5(a) exercised pursuant to a determination that has been revoked under 
subsection (a) shall cease to be exercised on the date of such 
revocation, except that such revocation shall not affect--
            (1) any action taken or proceeding pending not finally 
        concluded or determined on such date; or
            (2) any rights or duties that matured or penalties that 
        were incurred prior to such date.
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