Sec. 2. Findings
205 words·~1 min read·
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Congress finds the following: Foreign adversaries are increasingly using economic coercion to pressure, punish, and influence United States allies and partners. Economic coercion causes economic harm to United States allies and partners and creates malign influence on the sovereign political actions of such allies and partners. Economic coercion can threaten the essential security of the United States and its allies. Economic coercion is often characterized by— capricious, pre-textual, and non-transparent actions taken without due process afforded; intimidation or threats of punitive actions; and informal actions that take place without explicit government action.
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 accountability. The United States should provide meaningful economic and political support to allies and partners affected by economic coercion. Supporting foreign trading partners affected by economic coercion can lead to opportunities for United States businesses, investors, and workers to reach new markets and customers.
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 countries. Such coordination will further demonstrate broad resolve against economic coercion.