,,ii #aagth ,,congress #b;d ,session ,s4 #dead ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #ac1 #bjbb,mr4 ,young 7for himself and ,mr4 ,coons7 introduced the following bill2 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 adversaries1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,countering ,economic ,coercion ,act of #bjbb4 #b4 ,sense of ,congress ,the following is the sense of ,congress3 7#a7 ,foreign adversaries are increasingly using economic coercion to pressure1 punish1 and influence foreign trading partners4 7#b7 ,economic coercion causes economic harm to foreign trading partners and creates malign influence on the sovereign political actions of foreign trading partners4 7#c7 ,economic coercion of foreign trading partners has negative effects on the national security of the ,united ,states4 7#d7 ,economic coercion is often characterized by-- 7,a7 arbitrary and discriminatory actions that run counter to the rules-based international order2 7,b7 capricious and non-transparent actions taken without due process afforded2 7,c7 intimidation or threats of punitive actions2 and 7,d7 informal actions that take place without explicit government action4 7#e7 ,recent acts of economic coercion have included instances in which foreign adversaries have-- 7,a7 arbitrarily restricted transportation of exports from a foreign trading partner to the foreign adversary2 7,b7 acted in a capricious and non-transparent manner to prevent or dissuade consumers from purchasing imports from a foreign trading partner2 7,c7 enacted arbitrary technical barriers to trade in goods and services in response to political actions taken by a foreign trading partner2 7,d7 arbitrarily restricted market access or otherwise limited the import of goods or services from a foreign trading partner2 7,e7 arbitrarily restricted investment in or export of goods or services to a foreign trading partner2 and 7,f7 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 partner4 7#f7 ,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 processes4 7#g7 ,the ,united ,states should provide material support to foreign trading partners affected by economic coercion4 7#h7 ,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 countries4 7#i7 ,such coordination will further demonstrate broad resolve against economic coercion4 #c4 ,definitions ,in this ,act3 7#a7 ,economic coercion ,the term economic coercion means actions1 measures1 or threats undertaken by a foreign adversary to restrain1 obstruct1 or manipulate trade1 foreign aid1 investment1 or commerce in an arbitrary1 capricious1 or non-transparent manner with the intention to cause economic harm or influence sovereign political actions4 7#b7 ,export2 ,export ,administration ,regulations2 in-country transfer2 reexport ,the terms export1 ,export ,administration ,regulations1 in-country transfer1 and reexport have the meanings given those terms in section #agdb of the ,export ,control ,reform ,act of #bjah 7#ej ,u4,s4,c4 #dhja74 7#c7 ,foreign adversary ,the term foreign adversary has the meaning given that term in section #h7;c77#b7 of the ,secure and ,trusted ,communications ,networks ,act of #bjai 7#dg ,u4,s4,c4 #afjg7;c77#b774 7#d7 ,foreign trading partner ,the term foreign trading partner means a jurisdiction that is a trading partner of the ,united ,states4 #d4 ,determination of economic coercion 7a7 ,in general ,if the ,president determines that a foreign trading partner is subject to economic coercion1 the ,president may exercise any authority described in section #e7;a7 to support or assist the foreign trading partner in a manner proportionate to the economic coercion4 7b7 ,information2 hearings ,to inform any determination or exercise of authority under subsection 7a71 the ,president may-- 7#a7 consult with the ,secretary of ,state1 the ,secretary of ,commerce1 the ,united ,states ,trade ,representative1 and the heads of other ,federal agencies1 as the ,president considers appropriate2 7#b7 seek information and advice from and consult with other relevant officers of the ,united ,states2 and 7#c7 afford other interested parties an opportunity to present relevant information and advice4 7c7 ,consultation with ,congress ,the ,president shall consult with ,congress-- 7#a7 before exercising any authority under subsection 7a72 and 7#b7 regularly for the duration of the exercise of such authority4 7d7 ,notice ,not later than #cj days after the date that the ,president determines that a foreign trading partner is subject to economic coercion or exercises any authority under subsection 7a71 the ,president shall publish in the ,federal ,register-- 7#a7 a notice of the determination or exercise of authority2 and 7#b7 a description of the circumstances that led to such determination or exercise of authority4 #e4 ,authorities to assist foreign trading partners affected by economic coercion 7a7 ,in general ,the authorities described in this subsection are the following3 7#a7 ,with respect to goods imported into the ,united ,states from a foreign trading partner subject to economic coercion by a foreign adversary-- 7,a7 the reduction or elimination of any duties2 or 7,b7 the modification of tariff-rate quotas4 7#b7 ,requesting appropriations for foreign aid to the foreign trading partner4 7#c7 ,expedited decisions with respect to the issuance of licenses for the export or reexport to1 or in-country transfer in1 the foreign trading partner of items subject to controls under the ,export ,administration ,regulations1 consistent with the ,export ,control ,reform ,act of #bjah 7#ej ,u4,s4,c4 #dhja et seq474 7#d7 ,expedited regulatory processes related to the importation of goods and services into the ,united ,states from the foreign trading partner4 7#e7 ,requesting the necessary authority and appropriations for sovereign loan guarantees to the foreign trading partner4 7#f7 ,the waiver of policy requirements 7other than policy requirements mandated by an ,act of ,congress7 as necessary to facilitate the provision of financing to support exports to the foreign trading partner4 7#g7 ,requesting appropriations for loan loss reserves to facilitate the provision of financing to support ,united ,states exports to the foreign trading partner4 7#h7 ,the exemption of financing provided to support ,united ,states exports to the foreign trading partner from section #h7;g77#a7 of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;g7g77#a774 7b7 ,coordination with allies ,to broaden economic support for a foreign trading partner1 the ,president shall endeavor to coordinate the exercise of the authorities described in subsection 7a7 with other foreign trading partners4 #f4 ,revocation of determination 7a7 ,in general ,any determination made by the ,president under section #d shall be revoked on the earliest of-- 7#a7 the date that is #b years after the date of such determination2 7#b7 the date of the enactment of a joint resolution revoking the determination2 or 7#c7 the date on which the ,president issues a proclamation revoking the determination4 7b7 ,termination of authorities ,any authority described in section #e7;a7 exercised pursuant to a determination that has been revoked under subsection 7a7 shall cease to be exercised on the date of such revocation1 except that such revocation shall not affect-- 7#a7 any action taken or proceeding pending not finally concluded or determined on such date2 or 7#b7 any rights or duties that matured or penalties that were incurred prior to such date4