This bill requires the Office of the U.S. Trade Representative (USTR) to regularly monitor and report on industrial subsidies provided by the Chinese government.
First, the USTR must coordinate with specified federal agencies to regularly monitor (1) industrial subsidies provided by the Chinese government; and (2) plans by the Chinese government to implement new, or expand existing, industrial subsidies.
Second, the USTR must coordinate with specified federal agencies to submit an annual report to Congress that identifies current and expected industrial subsidies provided by the Chinese government that pose a significant risk to (1) employment in the United States, including employment in strategically critical industries; and (2) manufacturing in the United States, including production of strategically critical goods. This report must also include recommendations for legislative, administrative, or other actions that could mitigate the risks posed by industrial subsidies.