S. 2380: Quad Economic Security Act

The Quad Economic Security Act, also known as S. 2380, is a bill that aims to strengthen economic cooperation among four countries: the United States, Australia, India, and Japan, collectively referred to as the Quad. The primary goal of the bill is to establish an Economic Security Working Group within the Quad framework.

Key Objectives of the Bill

• **Enhance Cooperation**: The United States is directed to work closely with Australia, India, and Japan to tackle regional challenges and promote economic security in the Indo-Pacific region.
• **Establish a Working Group**: The Secretary of State, in consultation with the Secretary of Commerce, is tasked with negotiating the formation of an Economic Security Working Group. This group will focus on:
• Securing critical supply chains
• Safeguarding critical infrastructure
• Countering economic coercion
• Addressing crises that disrupt supply chains

Functions of the Working Group

Once established, the Economic Security Working Group will serve several key functions:

• **Forum for Coordination**: It will help the Quad countries work together effectively to secure critical infrastructure and enhance the resilience of supply chains.
• **Crisis Simulation Exercises**: The group will conduct exercises to prepare for potential economic coercion and supply chain disruptions.
• **Emergency Response Mechanism**: It will act as a coordinated response platform for emergencies affecting critical sectors related to national security, facilitating communication and coordination in times of need.

Requirements for Negotiation and Reporting

If negotiations to establish the Working Group begin, the Secretary of State must:

• Submit a report to appropriate congressional committees identifying supply chains vital to national security.
• Identify regional partners in the Indo-Pacific who may assist in reinforcing economic security.

Additionally, the Secretary of State and the Secretary of Commerce are required to provide annual updates to Congress on the progress of establishing the Working Group until negotiations are concluded.

Funding Provisions

The bill states that no new funds are authorized for its implementation; all activities will be conducted using existing appropriations.

Relevant Companies

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