§3370b Collaboration Between Intelligence Community and Department of Commerce to Counter Foreign Commercial Threats

Summary

Creates a Working Group to find and fight “foreign commercial threats” unless the Director of National Intelligence and the Secretary of Commerce decide an existing group can do the job. The Working Group must find current and likely future threats and list goods, services, or intellectual property that the United States or its allies could produce to reduce those risks. The group must meet no later than 30 days after December 23, 2022 and then at least quarterly. It must send a report to the appropriate congressional committees no later than 60 days after December 23, 2022 and every six months after that until it ends. Reports must describe identified threats, any U.S. plans to address them, how intelligence will support Commerce and other customers, and other major actions. The group can be ended starting two years after it starts if the DNI and Secretary of Commerce jointly decide and notify Congress with a justification. The DNI and Secretary may instead assign these duties to an existing entity if they jointly decide that is appropriate and notify the congressional intelligence committees with a justification. Defined terms (brief): - Appropriate congressional committees: the congressional intelligence committees and certain Senate and House committees on commerce, armed services, foreign affairs, and appropriations. - Foreign commercial threat: a rare item or service tied to a strategic competitor or foreign adversary that could give them leverage over a recipient. - Rare commercial item or service: a good, service, or intellectual property not widely available.