Economic Statecraft for the Twenty-First Century Act
The source supplies the latest action, but no lifecycle stage.
Latest action (28 Apr 2022): Read twice and referred to the Committee on Foreign Relations.
What this bill does
The Economic Statecraft for the Twenty-First Century Act, introduced in the Senate, aims to address various economic issues related to U.S. foreign policy. If enacted, it would establish a task force to counter economic coercion from China and require increased inspections of goods from countries identified as major sources of counterfeit items. Additionally, the bill would direct the State Department to develop a strategy for controlling the export of semiconductor manufacturing equipment to China and mandate presidential support for capital increases at the Inter-American Development Bank.
This bill would primarily affect U.S. government agencies involved in international trade, foreign aid, and national security, as well as entities engaged in business with China or seeking U.S. foreign assistance. It also impacts countries that are potential recipients of U.S. aid and those identified as sources of counterfeit goods or facing Chinese economic coercion. The legislation is currently in its introduced phase and has been referred to the Committee on Foreign Relations. Its next step in the legislative process would be consideration by that committee.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Economic Statecraft for the Twenty-First Century Act
This bill addresses various economic issues related to foreign policy. For example, the bill (1) establishes the Countering Economic Coercion Task Force to oversee the implementation of an integrated U.S. government strategy to respond to any economic practices by China that are abusive, arbitrary, and contrary to international rules; (2) requires U.S. Customs and Border Protection to increase inspections of goods imported from countries identified as a top source of counterfeit goods; (3) requires the Department of State to develop a strategy for engaging with other countries to institute controls on the export of semiconductor manufacturing equipment to China; and (4) requires the President to support a 10th general capital increase for the Inter-American Development Bank.
Timeline
28 Apr 2022
Read twice and referred to the Committee on Foreign Relations.
Common questions
- What does S. 4112 do?
- The Economic Statecraft for the Twenty-First Century Act, introduced in the Senate, aims to address various economic issues related to U.S. foreign policy. If enacted, it would establish a task force to counter economic coercion from China and require increased inspections of goods from countries identified as major sources of counterfeit items. Additionally, the bill would direct the State Department to develop a strategy for controlling the export of semiconductor manufacturing equipment to China and mandate presidential support for capital increases at the Inter-American Development Bank. This bill would primarily affect U.S. government agencies involved in international trade, foreign aid, and national security, as well as entities engaged in business with China or seeking U.S. foreign assistance. It also impacts countries that are potential recipients of U.S. aid and those identified as sources of counterfeit goods or facing Chinese economic coercion. The legislation is currently in its introduced phase and has been referred to the Committee on Foreign Relations. Its next step in the legislative process would be consideration by that committee.
- Has S. 4112 become law?
- The source does not supply a confirmed lifecycle stage for S. 4112. Check the latest action and official source below.
- Who sponsored S. 4112?
- S. 4112 was sponsored by Sen. Menendez, Robert [D-NJ] (D-NJ), with 0 cosponsors.
- What's the latest action on S. 4112?
- Read twice and referred to the Committee on Foreign Relations. (28 Apr 2022).
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