S. 4514 · 117th Congress
Countering Economic Coercion Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
YoungSponsor3 cosponsors · 2 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill authorizes the President to take certain actions to assist foreign trading partners affected by economic coercion.
What it does: CRS summary · Introduced in Senate · Jul 13, 2022
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Countering Economic Coercion Act of 2022
Latest action (Jul 13, 2022): Read twice and referred to the Committee on Foreign Relations.
Policy area: Foreign Trade and International Finance · Origin: Senate · Introduced: Jul 13, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.