Countering Economic Coercion Act of 2023

The Countering Economic Coercion Act of 2023 establishes a framework for the U.S. to respond when foreign adversaries use economic coercion against U.S. trading partners. It authorizes the President to provide economic support to affected trading partners, such as reducing import duties or expediting export licenses, while also enabling measures against the foreign adversary like increasing duties on their goods. The bill requires the President to consult with Congress before implementing any support measures and to publish details of the economic coercion in the Federal Register. It emphasizes coordination with allies to address economic coercion as a shared challenge to the international trade system, with specific limitations on tariff changes to prevent indirect benefits to the foreign adversary.