H.R. 3429: US-Japan-ROK Trilateral Cooperation Act

This legislation, titled the US-Japan-ROK Trilateral Cooperation Act, aims to establish a structured dialogue and cooperation framework between the United States, Japan, and the Republic of Korea (ROK). The primary objectives of this bill include:

1. Promotion of Trilateral Cooperation

The Act emphasizes the need for the United States to strengthen trilateral partnerships with Japan and the ROK. This includes working together to address regional challenges and fostering a stable, inclusive, and healthy Indo-Pacific region. The bill builds on the commitments made during a summit held in August 2023, indicating a new level of partnership among the three nations.

2. Establishment of a Dialogue Framework

Under the bill, the Secretary of State is tasked with negotiating the creation of a US-Japan-ROK Inter-Parliamentary Dialogue within 180 days of the bill's enactment. This dialogue will be designed to enhance cooperation on shared interests and values among the three countries.

3. Composition of the United States Group

A United States Group will be formed as part of the Inter-Parliamentary Dialogue. This group will consist of up to eight members of Congress, with appointments divided amongst the leadership from both the House and the Senate. The membership will ensure representation from both parties and from members active in foreign affairs.

4. Meeting Frequency and Format

The US Group will meet at least annually with representatives from Japan and the ROK’s legislative bodies, including meetings that can take place in-person in any of the three countries or conducted virtually. These meetings seek to deepen dialogue on various important issues.

5. Leadership Structure

The leadership of the United States Group will alternate between the House and Senate delegates every two years. This will ensure shared leadership and equal participation from both chambers of Congress.

6. Acceptance of Contributions

The US Group has the ability to accept donations or services from private sources, subject to oversight from the ethics committees of both Congressional chambers.

7. Reporting Requirements

Annual reports detailing the expenditures and activities of the group will be submitted to Congress, allowing for accountability and transparency regarding its operations and funding.

8. Goals of the Trilateral Cooperation

• Enhance maritime security cooperation to maintain stability and freedom of navigation in the Indo-Pacific.
• Counter foreign misinformation to protect democratic institutions and promote accurate information sharing.
• Regularly hold Trilateral Leaders’ Summits to reinforce cooperation and shared efforts among the three countries.

The intent of the bill is to create a sustained, cooperative framework involving major legislative bodies from the three countries to address security, economic, and informational challenges in the region.

Relevant Companies

• T - AT&T Inc.: As a major telecommunications provider, AT&T could be affected by changes in trade agreements or security collaborations that may impact technology sharing among the U.S., Japan, and ROK.
• TSM - Taiwan Semiconductor Manufacturing Company: TSMC, based in Taiwan, may be indirectly affected by any changes in semiconductor policy resulting from U.S.-Japan-ROK cooperation, especially in relation to industry standards and trade practices.
• NKE - Nike, Inc.: As a global brand that may depend on manufacturing and supply chains in both Japan and Korea, any changes in trade relations could influence operations or costs.