[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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