Countering Economic Coercion Act of 2023

[AI summary unavailable — showing source text] Countering Economic Coercion Act of 2023 This bill authorizes the President to take certain actions to assist foreign trading partners affected by economic coercion and penalize foreign adversaries. Economic coercion refers to actions, practices, or threats undertaken by a foreign adversary to unreasonably restrain, obstruct, or manipulate trade, foreign aid, investment, or commerce with the intent to cause economic harm to achieve strategic political objectives or influence sovereign political actions. Specifically, the bill authorizes the President (upon a determination that a foreign trading partner is subject to economic coercion) to exercise specified authorities to support or assist the foreign trading partner. These authorities include, among others, decreasing duties or modifying tariff-rate quotas on imports from the foreign trading partner, requesting appropriations for foreign aid, and expediting export licensing decisions and regulatory processes. Further, the bill authorizes the President to exercise specified authorities to penalize a foreign adversary engaged in economic coercion. The authorities include increasing duties and modifying tariff-rate quotas. The bill ou…