Biden Calls for New Task Force to Counter Economic Coercion
President Joe Biden called for the creation of a new task force to counter foreign economic coercion, which he said will help the U.S. better respond to coercive measures by “countries of concern,” including China.
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The task force, outlined by Biden in a memorandum released Dec. 12, will develop and implement an “integrated United States Government strategy to respond to and deter coercive economic practices” by those nations, and it will be “informed by consultations” with industry, various government agencies and U.S. partners, the memorandum said. The task force must submit a report and recommendations to Congress within 180 days and a more comprehensive report within one year, with more reports due after that.
It will be chaired by the assistant to the president for national security affairs and include representatives from the State, Treasury and Commerce departments, as well as DOJ, the Office of the U.S. Trade Representative, DHS and others.