United States 118th Congress Status: In Committee 1 R cosponsors

S 295 — Countering Economic Coercion Act of 2023

Last action — Read twice and referred to the Committee on Foreign Relations.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

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.

Bill Text

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Foreign Relations.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance labor technology
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Frequently asked questions

What does S 295 do?
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.
Who sponsors S 295?
S 295 is sponsored by Young, Todd (Republican).
What is the current status of S 295?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 295?
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