Bill > S4514

This bill, the Countering Economic Coercion Act of 2022, grants the President certain authorities to combat economic coercion by foreign adversaries. The bill defines "economic coercion" as 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 to cause economic harm or influence sovereign political actions. The President can exercise authorities like reducing or eliminating duties on imports from the affected foreign trading partner, requesting foreign aid and loan guarantees, expediting export licenses, and facilitating financing for exports. The President must consult with Congress before and during the exercise of these authorities, and any determination of economic coercion can be revoked after 2 years or through a joint resolution or presidential proclamation.