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Countering Economic Coercion Act: Supporting US Allies

This act aims to protect US allies and trading partners from unfair economic actions by other nations. The US President gains new powers to support countries affected by such coercion, for example, by reducing tariffs on their products or providing financial aid. Simultaneously, the act allows for penalties against countries engaging in economic coercion, which may affect the prices of certain imported goods.
Key points
The US President can reduce or eliminate duties on goods from countries facing economic coercion, potentially leading to lower prices for US consumers.
The act enables financial aid and expedited export processes for countries targeted by economic coercion, supporting their economies.
The President can increase duties on goods from foreign adversaries engaged in economic coercion, which may impact prices of imported products from those nations.
The measures aim to protect the economic security of the US and its allies, potentially stabilizing global markets.
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Expired
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Additional Information
Print number: 118_HR_1135
Sponsor: Rep. Meeks, Gregory W. [D-NY-5]
Process start date: 2023-02-21
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Countering Economic Coercion Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1135.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-21.

What are the main provisions?

Key points include:

  • The US President can reduce or eliminate duties on goods from countries facing economic coercion, potentially leading to lower prices for US consumers.
  • The act enables financial aid and expedited export processes for countries targeted by economic coercion, supporting their economies.
  • The President can increase duties on goods from foreign adversaries engaged in economic coercion, which may impact prices of imported products from those nations.
  • The measures aim to protect the economic security of the US and its allies, potentially stabilizing global markets.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Meeks, Gregory W. [D-NY-5].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Trade.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy Security