,,ii #aahth ,,congress #ast ,session ,s4 #bie ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,february #g1 #bjbc,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 #bjbc4 #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 ,united ,states allies and partners4 7#b7 ,economic coercion causes economic harm to ,united ,states allies and partners and creates malign influence on the sovereign political actions of such allies and partners4 7#c7 ,economic coercion can threaten the essential security of the ,united ,states and its allies4 7#d7 ,economic coercion is often characterized by-- 7,a7 arbitrary1 abusive1 and discriminatory actions that seek to interfere with sovereign actions1 violate international trade rules1 and run counter to the rules-based international order2 7,b7 capricious1 pre-textual1 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 ,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 to evade accountability4 7#f7 ,the ,united ,states should provide meaningful economic and political support to foreign trading partners affected by economic coercion4 7#g7 ,supporting foreign trading partners affected by economic coercion can lead to opportunities for ,united ,states businesses1 investors1 and workers to reach new markets and customers4 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 ,appropriate congressional committees ,the term appropriate congressional committees-- 7,a7 means-- 7i7 the ,committee on ,foreign ,relations of the ,senate2 and 7ii7 the ,committee on ,foreign ,affairs of the ,house of ,representatives2 and 7,b7 includes-- 7i7 with respect to the exercise of any authority under section #e7;a77#a7 or #e7;b7-- 7,i7 the ,committee on ,finance of the ,senate2 and 7,,ii7 the ,committee on ,ways and ,means of the ,house of ,representatives2 and 7ii7 with respect to the exercise of any authority under paragraph 7#f7 or 7#h7 of section #e7;a7-- 7,i7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 and 7,,ii7 the ,committee on ,financial ,services of the ,house of ,representatives4 7#b7 ,economic coercion ,the term economic coercion means actions1 practices1 or threats undertaken by a foreign adversary to unreasonably 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 to achieve strategic political objectives or influence sovereign political actions4 7#c7 ,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#d7 ,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#e7 ,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 ,presidential determination 7#a7 ,in general ,if the ,president determines that a foreign trading partner is subject to economic coercion by a foreign adversary1 the ,president may exercise1 in a manner proportionate to the economic coercion1 any authority described-- 7,a7 in section #e7;a7 to support or assist the foreign trading partner2 or 7,b7 in section #e7;b7 to penalize the foreign adversary4 7#b7 ,information2 hearings ,to inform any determination or exercise of authority under paragraph 7#a71 the ,president shall-- 7,a7 obtain the written opinion and analysis of the ,secretary of ,state1 the ,secretary of ,commerce1 the ,secretary of the ,treasury1 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 7#c7 ,consultation with ,congress ,the ,president shall consult with the appropriate congressional committees-- 7,a7 not earlier than #cj days and not later than #aj days before exercising any authority under paragraph 7#a72 and 7,b7 not less frequently than once every #ahj days for the duration of the exercise of such authority4 7#d7 ,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 paragraph 7#a71 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 economic coercion that the foreign adversary is applying to the foreign trading partner and other circumstances that led to such determination or exercise of authority4 7b7 ,expedited determination 7#a7 ,in general ,if the ,secretary of ,state determines that a foreign trading partner is subject to economic coercion by a foreign adversary1 the ,secretary of ,state or the head of the relevant ,federal agency may exercise any authority described in paragraphs 7#b7 through 7#g7 of section #e7;a74 7#b7 ,notices 7,a7 ,in general ,not later than #aj days after a determination under paragraph 7#a71 the ,secretary of ,state shall submit to the appropriate congressional committees a notice of such determination4 7,b7 ,exercise of authority ,not later than #aj days after the exercise of any authority described in paragraphs 7#b7 through 7#g7 of section #e7;a7 that relies on the determination for which the ,secretary of ,state submitted notice under subparagraph 7,a71 the ,secretary of ,state or the head of the relevant ,federal agency relying on such determination shall submit to the appropriate congressional committees a notice of intent to exercise such authority1 but not more frequently than once every #ij days4 7c7 ,revocation of determination 7#a7 ,in general ,any determination made by the ,president under subsection 7a7 or the ,secretary of ,state under subsection 7b7 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 of disapproval revoking the determination2 or 7,c7 the date on which the ,president issues a proclamation revoking the determination4 7#b7 ,termination of authorities ,any authority described in section #e7;a7 exercised pursuant to a determination that has been revoked under paragraph 7#a7 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 #e4 ,authorities to assist foreign trading partners affected by economic coercion 7a7 ,authorities with respect to foreign trading partners ,the authorities described in this subsection are the following3 7#a7 ,subject to section #g1 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 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 ,congress1 including the policies and procedures established pursuant to section #aa of the ,export-,import ,bank ,act of #aide 7#ab ,u4,s4,c4 #fce;i-#e77 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 ,authorities with respect to foreign adversaries ,with respect to goods imported into the ,united ,states from a foreign adversary engaged in economic coercion of a foreign trading partner1 the authorities described in this subsection are the following3 7#a7 ,the increase in duties4 7#b7 ,the modification of tariff-rate quotas4 #f4 ,coordination with allies and partners 7a7 ,coordination by ,president ,after a determination by the ,president that a foreign trading partner is subject to economic coercion by a foreign adversary1 the ,president shall endeavor to coordinate-- 7#a7 the exercise of the authorities described in section #e with the exercise of relevant authorities by allies and partners in order to broaden economic support to the foreign trading partner affected by economic coercion2 and 7#b7 with allies and partners to issue joint condemnation of the actions of the foreign adversary and support for the foreign trading partner4 7b7 ,coordination by ,secretary ,the ,secretary of ,state1 in coordination with the heads of the relevant agencies1 shall endeavor-- 7#a7 to encourage allies and partners to identify or create mechanisms and authorities necessary to facilitate the coordination under subsection 7a77#a72 7#b7 to coordinate with allies and partners to increase opposition to economic coercion in the international community2 7#c7 to coordinate with allies and partners to deter the use of economic coercion by foreign adversaries2 and 7#d7 to engage with foreign trading partners to gather information about possible instances of economic coercion and share such information with the appropriate congressional committees4 #g4 ,conditions with respect to tariff authority 7a7 ,limitations on tariff authority ,the authority described in section #e7;a77#a7-- 7#a7 does not include the authority to reduce or eliminate antidumping or countervailing duties imposed under title ,,vii of the ,tariff ,act of #aicj 7#ai ,u4,s4,c4 #afga et seq472 7#b7 may only apply to an article if-- 7,a7 such article is-- 7i7 designated by the ,president as an eligible article for purposes of the ,generalized ,system of ,preferences under section #ejc of the ,trade ,act of #aigd 7#ai ,u4,s4,c4 #bdfc72 and 7ii7 imported directly from the foreign trading partner into the customs territory of the ,united ,states2 and 7,b7 the sum of the cost or value of the materials produced in the foreign trading partner and the direct costs of processing operations performed in such foreign trading partner is not less than #ce percent of the appraised value of such article at the time it is entered2 7#c7 may not apply to any article that is the product of the foreign trading partner by virtue of having merely undergone-- 7,a7 simple combining or packaging operations2 or 7,b7 mere dilution with water or another substance that does not materially alter the characteristics of the article2 and 7#d7 may not be applied in a manner that would provide indirect economic benefit to a foreign adversary4 7b7 ,consultation with ,congress 7#a7 ,in general ,before exercising any authority described in subsection 7a77#a7 or 7b7 of section #e1 the ,president shall submit to the appropriate congressional committees a notice of intent to exercise such authority that includes a description of-- 7,a7 the circumstances that merit the exercise of such authority2 7,b7 the expected effects of the exercise of such authority on the economy of the ,united ,states and businesses1 workers1 farmers1 and ranchers in the ,united ,states2 7,c7 the expected effects of the exercise of such authority on the foreign trading partner2 and 7,d7 the expected effects of the exercise of such authority on the foreign adversary4 7#b7 ,congressional review 7,a7 ,in general ,during the period of #de calendar days beginning on the date on which the ,president submits a notice of intent under paragraph 7#a71 the appropriate congressional committees should hold hearings and briefings and otherwise obtain information in order to fully review the proposed exercise of authority4 7,b7 ,limitation on exercise of authority during congressional review ,notwithstanding any other provision of law1 during the period for congressional review described in subparagraph 7,a7 of a notice of intent submitted under paragraph 7#a71 the ,president may not take the proposed exercise of authority unless a joint resolution of approval with respect to that exercise of authority is enacted4 7,c7 ,effect of enactment of joint resolution of disapproval ,notwithstanding any other provision of law1 if a joint resolution of disapproval relating to a notice of intent submitted under paragraph 7#a7 is enacted during the period for congressional review described in subparagraph 7,a71 the ,president may not take the proposed exercise of authority4 #h4 ,process for joint resolutions of approval or disapproval 7a7 ,definitions ,in this ,act3 7#a7 ,joint resolution of approval ,the term joint resolution of approval means only a joint resolution of either ,house of ,congress-- 7,a7 which does not have a preamble2 7,b7 the title of which is as follows3 ,a joint resolution approving the ,president's exercise of authority under section #e of the ,countering ,economic ,coercion ,act of #bjbc42 and 7,c7 the sole matter after the resolving clause of which is as follows3 ,that ,congress approves the exercise of authority by the ,president under section #e of the ,countering ,economic ,coercion ,act of #bjbc1 submitted to ,congress on 41 with the blank space being filled with the appropriate date4 7#b7 ,joint resolution of disapproval ,the term joint resolution of disapproval means-- 7,a7 with respect to a determination under section #d7;a71 only a joint resolution of either ,house of ,congress-- 7i7 which does not have a preamble2 7ii7 the title of which is as follows3 ,a joint resolution disapproving the ,president's determination under section #d7;a7 of the ,countering ,economic ,coercion ,act of #bjbc42 and 7iii7 the sole matter after the resolving clause of which is as follows3 ,that ,congress disapproves the determination of the ,president under section #d7;a7 of the ,countering ,economic ,coercion ,act of #bjbc1 published in the ,federal ,register on 41 with the blank space being filled with the appropriate date2 7,b7 with respect to a determination under section #d7;b71 only a joint resolution of either ,house of ,congress-- 7i7 which does not have a preamble2 7ii7 the title of which is as follows3 ,a joint resolution disapproving the ,secretary of ,state's determination under section #d7;b7 of the ,countering ,economic ,coercion ,act of #bjbc42 and 7iii7 the sole matter after the resolving clause of which is as follows3 ,that ,congress disapproves the determination of the ,secretary of ,state under section #d7;b7 of the ,countering ,economic ,coercion ,act of #bjbc1 submitted to ,congress on 41 with the blank space being filled with the appropriate date2 and 7,c7 with respect to section #g1 only a joint resolution of either ,house of ,congress-- 7i7 which does not have a preamble2 7ii7 the title of which is as follows3 ,a joint resolution disapproving the ,president's exercise of authority under section #e of the ,countering ,economic ,coercion ,act of #bjbc42 and 7iii7 the sole matter after the resolving clause of which is as follows3 ,that ,congress disapproves the exercise of authority by the ,president under section #e of the ,countering ,economic ,coercion ,act of #bjbc1 submitted to ,congress on 41 with the blank space being filled with the appropriate date4 7b7 ,introduction in the ,house of ,representatives ,during a period of #e legislative days beginning on the date that a notice of determination is published in the ,federal ,register in accordance with section #d7;a77#d7 or submitted to the appropriate congressional committees in accordance with section #d7;b77#b77;,a7 or a notice of intent is submitted to the appropriate congressional committees in accordance with section #d7;b77#b77;,b7 or section #g7;b77#a71 a joint resolution of approval or a joint resolution of disapproval may be introduced in the ,house of ,representatives by the majority leader or the minority leader4 7c7 ,introduction in the ,senate ,during a period of #e days on which the ,senate is in session beginning on the date that a notice of determination is published in the ,federal ,register in accordance with section #d7;a77#d7 or submitted to the appropriate congressional committees in accordance with section #d7;b77#b77;,a7 or a notice of intent is submitted to the appropriate congressional committees in accordance with section #d7;b77#b77;,b7 or section #g7;b77#a71 a joint resolution of approval or a joint resolution of disapproval may be introduced in the ,senate by the majority leader 7or the majority leader's designee7 or the minority leader 7or the minority leader's designee74 7d7 ,floor consideration in the ,house of ,representatives 7#a7 ,reporting and discharge ,if a committee of the ,house of ,representatives to which a joint resolution of approval or joint resolution of disapproval has been referred has not reported such joint resolution within #aj legislative days after the date of referral1 that committee shall be discharged from further consideration of the joint resolution4 7#b7 ,proceeding to consideration ,in the ,house of ,representatives1 the following procedures shall apply to a joint resolution of approval or a joint resolution of disapproval3 7,a7 ,beginning on the third legislative day after each committee to which a joint resolution of approval or joint resolution of disapproval has been referred reports it to the ,house of ,representatives or has been discharged from further consideration of the joint resolution1 it shall be in order to move to proceed to consider the joint resolution in the ,house of ,representatives4 7,b7 ,all points of order against the motion are waived4 ,such a motion shall not be in order after the ,house of ,representatives has disposed of a motion to proceed on a joint resolution with regard to the same certification4 ,the previous question shall be considered as ordered on the motion to its adoption without intervening motion4 ,the motion shall not be debatable4 ,a motion to reconsider the vote by which the motion is disposed of shall not be in order4 7#c7 ,consideration ,the joint resolution shall be considered as read4 ,all points of order against the joint resolution and against its consideration are waived4 ,the previous question shall be considered as ordered on the joint resolution to final passage without intervening motion except two hours of debate equally divided and controlled by the sponsor of the joint resolution 7or a designee7 and an opponent4 ,a motion to reconsider the vote on passage of the joint resolution shall not be in order4 7e7 ,consideration in the ,senate 7#a7 ,committee referral ,a joint resolution of approval or a joint resolution of disapproval introduced in the ,senate shall be referred to the ,committee on ,foreign ,relations4 7#b7 ,reporting and discharge ,if the ,committee on ,foreign ,relations has not reported a joint resolution of approval or a joint resolution of disapproval within #aj days on which the ,senate is in session after the date of referral of such joint resolution1 that committee shall be discharged from further consideration of such joint resolution and the joint resolution shall be placed on the appropriate calendar4 7#c7 ,motion to proceed ,notwithstanding ,rule ,,xxii of the ,standing ,rules of the ,senate1 it is in order at any time after the ,committee on ,foreign ,relations reports the joint resolution of approval or the joint resolution of disapproval to the ,senate or has been discharged from its consideration 7even though a previous motion to the same effect has been disagreed to7 to move to proceed to the consideration of the joint resolution1 and all points of order against the joint resolution 7and against consideration of the joint resolution7 shall be waived4 ,the motion to proceed is not debatable4 ,the motion is not subject to a motion to postpone4 ,a motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order4 ,if a motion to proceed to the consideration of the joint resolution of approval or the joint resolution of disapproval is agreed to1 the joint resolution shall remain the unfinished business until disposed4 7#d7 ,debate ,debate on a joint resolution of approval or a joint resolution of disapproval1 and on all debatable motions and appeals in connection with such joint resolution1 shall be limited to not more than #aj hours1 which shall be divided equally between the majority and minority leaders or their designees4 ,a motion to further limit debate is in order and not debatable4 ,an amendment to1 or a motion to postpone1 or a motion to proceed to the consideration of other business1 or a motion to recommit the joint resolution is not in order4 7#e7 ,vote on passage ,the vote on passage shall occur immediately following the conclusion of the debate on the joint resolution of approval or the joint resolution of disapproval and a single quorum call at the conclusion of the debate1 if requested in accordance with the rules of the ,senate4 7#f7 ,rules of the ,chair on procedure ,appeals from the decisions of the ,chair relating to the application of the rules of the ,senate1 as the case may be1 to the procedure relating to the joint resolution of approval or the joint resolution of disapproval shall be decided without debate4 7#g7 ,consideration of veto messages ,debate in the ,senate of any veto message with respect to the joint resolution of approval or the joint resolution of disapproval1 including all debatable motions and appeals in connection with such joint resolution1 shall be limited to #aj hours1 to be equally divided between1 and controlled by1 the majority leader and the minority leader or their designees4 7f7 ,procedures in the senate ,except as otherwise provided in this section1 the following procedures shall apply in the ,senate to a joint resolution of approval or a joint resolution of disapproval to which this section applies3 7#a7 ,except as provided in paragraph 7#b71 a joint resolution of approval or a joint resolution of disapproval that has passed the ,house of ,representatives shall1 when received in the ,senate1 be referred to the ,committee on ,foreign ,relations for consideration in accordance with this subsection4 7#b7 ,if a joint resolution of approval or a joint resolution of disapproval to which this section applies was introduced in the ,senate before receipt of a joint resolution of approval or a joint resolution of disapproval that has passed the ,house of ,representatives1 the joint resolution from the ,house of ,representatives shall1 when received in the ,senate1 be placed on the calendar4 ,if this paragraph applies1 the procedures in the ,senate with respect to a joint resolution of approval or a joint resolution of disapproval introduced in the ,senate that contains the identical matter as a joint resolution of approval or a joint resolution of disapproval that passed the ,house of ,representatives shall be the same as if no joint resolution of approval or joint resolution of disapproval had been received from the ,house of ,representatives1 except that the vote on passage in the ,senate shall be on the joint resolution of approval or the joint resolution of disapproval that passed the ,house of ,representatives4 7g7 ,rules of the ,house of ,representatives and ,senate ,this section is enacted by ,congress-- 7#a7 as an exercise of the rulemaking power of the ,senate and the ,house of ,representatives1 respectively1 and as such is deemed a part of the rules of each ,house1 respectively1 but applicable only with respect to the procedure to be followed in that ,house in the case of a joint resolution of approval or a joint resolution of disapproval under this paragraph1 and supersedes other rules only to the extent that it is inconsistent with such rules2 and 7#b7 with full recognition of the constitutional right of either ,house to change the rules 7so far as relating to the procedure of that ,house7 at any time1 in the same manner1 and to the same extent as in the case of any other rule of that ,house4