Sec. 253. Enhancing United States-European Union cooperation on post-COVID–19 economic relations with the People's Republic of China
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It is the sense of Congress that— the United States and European Union should leverage their respective economic innovation capabilities to support the global economic recovery from the COVID–19 recession and draw a contrast with the People's Republic of China’s centralized economy; the United States and European Union should accelerate efforts to de-escalate their trade disputes, including negotiating a United States-European Union trade agreement that benefits workers and the broader economy in both the United States and European Union; and the United States, European Union, and Japan should continue trilateral efforts to address economic challenges posed by the People's Republic of China.
The President shall work with counterparts in Europe to establish a United States-European Union COVID–19 economic working group focused on the People's Republic of China. The United States participants in the proposed working group shall seek to— evaluate United States and European Union overreliance on Chinese goods, including in the medical and pharmaceutical sectors, and develop joint strategies to diversify supply chains; counter Chinese efforts to use COVID–19-related assistance as a coercive tool to pressure developing countries by offering United States and European Union expertise in the form of official advisors within finance ministries and COVID–19 task forces; and leverage the United States and European Union private sector in the COVID–19 economic recovery.