§3370b Collaboration between intelligence community and Department of Commerce to counter foreign commercial threats

Summary

Requires the Director of National Intelligence and the Secretary of Commerce to set up a Working Group to counter "foreign commercial threats," unless they jointly decide an existing group can do the job and tell the congressional intelligence committees why. "Appropriate congressional committees" means the congressional intelligence committees and four Senate and four House committees (Commerce, Armed Services, Foreign Relations/Foreign Affairs, and Appropriations; plus House Energy and Commerce). A "foreign commercial threat" is a rare product, service, or intellectual property controlled by a strategic competitor or foreign adversary that could give that country leverage over the U.S. or its partners. In deciding if something is a threat, the group must consider if the foreign actor could withhold the item, make others depend on it for safety, health, or the economy, or if it would be hard for U.S. or allied providers to replace it. "Rare commercial item or service" means something not widely available. The Working Group must include any federal staff the leaders think are needed. It must find current and likely future threats and identify goods or services the U.S. or allies could make to reduce those threats. The group must meet not later than 30 days after December 23, 2022, and at least quarterly after that until it ends. It must send reports to the appropriate congressional committees not later than 60 days after December 23, 2022, and every six months after that until it ends. Reports must say what threats were found, any U.S. strategy to deal with them, how the intelligence community will help Commerce and other nontraditional customers, and other major work. The group can be ended starting two years after it is set up if the Director and Secretary jointly decide and notify the appropriate committees with reasons.