Countering Economic Coercion Act of 2023

Summary

Countering Economic Coercion Act of 2023 This bill authorizes the President to take certain actions to assist foreign trading partners affected by economic coercion and penalize foreign adversaries. Economic coercion refers to actions, practices, or threats undertaken by a foreign adversary to unreasonably restrain, obstruct, or manipulate trade, foreign aid, investment, or commerce with the intent to cause economic harm to achieve strategic political objectives 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. Further, the bill authorizes the President to exercise specified authorities to penalize a foreign adversary engaged in economic coercion. The authorities include increasing duties and modifying tariff-rate quotas. The bill outlines consultation and notification requirements. It also provides a process for an expedited determination regarding economic coercion. 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 disapproval, 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 and condemn the actions of the foreign adversary.

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Timeline

1. 7 February 2023

   Introduced

   Read twice and referred to the Committee on Foreign Relations.

   Source: IntroReferral

2. 7 February 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 February 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 February 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 February 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 7 February 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Young, Todd [R-IN] · R · Sponsor
• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Sullivan, Dan [R-AK] · R · Cosponsor
• · ssfr00 · Standing

Related records

• related to ← Countering Economic Coercion Act of 2023