H.R. 1704: Championing American Business Through Diplomacy Act of 2019

CBO Score

$2 million

Date of Report

Thu May 2nd, 2019

CBO Report Details

Legislation Details

116th Congress

To foster commercial relations with foreign countries and support United States economic and business interests abroad in the conduct of foreign policy, and for other purposes.

Sponsor: Rep. Michael McCaul — R — TX

Establishes within the Department of State an Assistant Secretary of State for Economic and Business Matters, and establishes that a principal duty of a diplomatic mission to a foreign country is the promotion of U.S. economic and commercial interests in that country. The Assistant Secretary shall be responsible for matters relating to international economics and business matters in foreign policy. The State Department shall train various Foreign Service officers, as part of their standard training, on matters including economic and commercial diplomacy, with a particular focus on market access, commercial advocacy, and increasing awareness of U.S. government assistance available to businesses. The President shall initiate negotiations with countries to establish international standards for government-supported infrastructure investment overseas. The negotiations shall cover issues including the sovereignty of c...

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