3.0.0 367 2025-01-14T19:00:46Z 2025-01-14T19:00:46Z Senate S S 2023-02-09 118 ssfr00 Foreign Relations Committee Senate Standing Referred To 2023-02-09T20:40:20Z 118 2546 HR 2023-04-10 Referred to the House Committee on Foreign Affairs. Related bill CRS 2023-02-09 ssfr00 Foreign Relations Committee Senate Read twice and referred to the Committee on Foreign Relations. IntroReferral 2023-02-09 Introduced in Senate IntroReferral 10000 9 Library of Congress R000584 Sen. Risch, James E. [R-ID] James Risch R ID E. N International Affairs International Affairs 2023-03-16T15:45:18Z

00 2023-02-09 Introduced in Senate 2023-06-29T14:35:57Z <p><b>Economic and Commercial Opportunities and Networks Act of 2023 or the ECON Act</b></p> <p>This bill addresses economic issues in foreign relations and intellectual property (IP) infringement.</p> <p>The bill expands the criminal offense of trade secrets theft to include the unauthorized modifying or developing of a product in a way that would not be possible without another party's trade secret. This offense shall apply to non-U.S. conduct if the offender attempts to import the product into the United States. </p> <p>Furthermore, the President may impose sanctions against a foreign person (individual or entity) that has committed a significant theft of IP belonging to a U.S. person. The President must also establish or designate a multiagency committee to (1) review petitions alleging such acts of IP theft, and (2) recommend whether to impose sanctions for the alleged theft. </p> <p>The bill also prohibits foreign state-owned entities in international commerce from engaging in predatory pricing, defined in the bill as setting prices for a good below the average variable cost in a manner that may foreseeably harm competition. An injured party may sue in federal court. In deciding such cases, the court may consider the economic support and government subsidies provided by the entity's foreign state owner.</p> <p>Furthermore, the Department of State must establish a pilot program to create economic defense response teams to provide targeted support for countries facing an urgent or specific coercive economic threat from a U.S. adversary. The State Department must establish another pilot program to assist developing partner countries with identifying trade barriers and facilitating trade.</p>

Display Title 45 2024-07-24T15:23:45Z Short Title(s) as Introduced 101 2024-05-24T13:42:26Z Introduced in Senate IS Short Title(s) as Introduced 101 2024-05-24T13:42:26Z Introduced in Senate IS Official Title as Introduced 6 2023-03-04T04:59:12Z Introduced in Senate IS Introduced in Senate 2023-02-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s367is/xml/BILLS-118s367is.xml 2023-02-09 Read twice and referred to the Committee on Foreign Relations. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.