Sec. 115. Office of the Chief Economist
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/bill/118/s/5491/is/section-115·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established at the Department of State an Office of the Chief Economist. The Office will be led by the Chief Economist of the Department of State, at the Senior Executive Service or equivalent level, and shall be responsible for— conducting economic research, collecting and analyzing data, and preparing reports and assessments and policy recommendations to senior Department leadership on international economic trends, opportunities, and challenges and unanticipated global developments with economic impacts; and providing economic analysis to inform policy making, including related to— international trade and trade policy; international macroeconomics and finance; economic development; competition and industrial strategy; economic sanctions development and implementation, and sanctions evasion; and capacity building; coordinating with allies and partners, other relevant agencies, departments, and stakeholders on international economic matters; identifying countries vulnerable to PRC economic coercion, and analyzing commodities, products, services, and other economic linkages of each such country that may be vulnerable targets for PRC economic coercion, including examining risk factors such as— perishability; strategic or political value, or to regional or global supply chains; proportion of the total export value for the exporting country of the product being exported to a country engaged in economic coercion; potential exposure of the product to arbitrary or excessive regulatory, phytosanitary, or other safety or inspection requirements; and reliance of a country on the import of such commodities, product, or services; and analyzing and monitoring economic linkages to identify goods and commodities with respect to which United States allies and partners may be vulnerable to economic coercion that is informed by— current market data; information, including United States intelligence, on economic coercion strategies; relevant data from before, during and after past instances of economic coercion; and any other relevant information needed to support economic analysis and policy recommendations, including access to information technology systems which integrate and synthesize economic and related data.
In addition to a qualified professional Chief Economist, the Secretary of State is authorized to employ sufficient full-time equivalent individuals to fully execute the Office of the Chief Economist, including— a Deputy Chief Economist, who must be a qualified professional economist; at least four qualified professional economists at the GS–15 level; a Chief Data Officer; a Chief of Staff; research economists; career members of the foreign service, including program support staff; and temporary staff, including fellows.
There is authorized to be appropriated $5,000,000 for each of fiscal years 2025 through 2029 for the Office for personnel costs, project and data services, and limited travel funds.