New House Bill Would Consolidate State Dept.’s Economic Security Work

House Select Committee on China Chairman Rep. John Moolenaar, R-Mich., plans to introduce a bill that would bring the State Department’s “scattered” economic security offices under a new deputy secretary position to help the U.S. compete with China, his office announced Nov. 1.

The deputy secretary for economic security would oversee export controls, sanctions, investment screening and supply chain security, among other responsibilities.

The proposed Economic Security and Diplomacy Act would also create an economic security officer program that would place U.S. diplomats in key foreign capitals to advocate for policies to protect U.S. and allied economic security interests.