Establishment of Transatlantic Growth Enterprise

(a) Enterprise authorized The Secretary of State shall, in coordination with the Chief Executive Officer of the Development Finance Corporation, and other relevant Federal agencies, carry out a program, to be known as the Transatlantic Growth Enterprise, in support of strengthening United States relations with participating Enterprise countries, with a particular focus on strengthening business to business ties and fostering a robust investment environment in participating Enterprise countries as well as expanding energy security and security cooperation within Enterprise countries. (b) Objectives The objectives of the Enterprise shall be the following: (1) Strengthen United States relationships with like-minded participating countries. (2) Expand business-to-business ties, including by working with relevant Chambers of Commerce, between United States industry and important economic and security sectors in participating countries. (3) Expand energy sector cooperation between the United States and Enterprise countries, including in the nuclear energy sector. (4) Strengthen people-to-people ties between the United States and participating countries. (5) Strengthen security cooperation and efforts to counter Russian malign influence and aggression on the European continent. (6) Counter the People’s Republic of China’s growing private sector footprint in Enterprise countries; (c) Meetings The Secretary shall seek to convene appropriate stakeholders of participating Enterprise countries at least twice per calendar year to discuss shared goals and priorities for the Enterprise. Such stakeholders shall include, as practicable, government officials, business leaders, and civil society representatives. (d) Limitation To the extent that projects or activities are undertaken or supported by the Secretary, the Enterprise may only engage with counterpart government officials of Enterprise countries that the Secretary has determined are not undermining United States interests in the region— (1) through cooperation with Russia or China; or (2) by undermining democracy in the region including through the conclusion of a bilateral agreement with the People’s Republic of China or the Russian Federation that enables the stationing of that country’s police or military forces on the enterprise country’s territory. (e) Reports (1) Implementation report Not later than 180 days after enactment of this Act, and annually thereafter, the Secretary, in coordination with the heads of the Federal agencies described in subsection (a), shall submit to the appropriate congressional committees a report detailing the activities of the Enterprise, which shall also include— (A) an overview of the diplomatic engagements undertaken in the Enterprise; (B) an assessment of the progress of achieving the objectives described in subsection (b); and (C) recommendations for future initiatives for the Enterprise to undertake. (2) Form The report required by paragraph (1) shall be submitted in unclassified form but may contain a classified annex. (3) Energy strategy Not later than 1 year after the date of the enactment of this Act, the Secretary of State, in consultation with the heads of the Federal agencies described in subsection (a), shall submit to the appropriate congressional committees a report that includes the following: (A) An overview of ongoing energy cooperation between the United States and participating Enterprise countries. (B) An overview of the dependency of enterprise countries on the Russian and Chinese energy sectors and the impacts of these dependencies on United States and transatlantic trade and energy security. (C) A list of opportunities in the energy sectors of participating countries, including in energy infrastructure, that would enhance the work of the Enterprise, further United States national security, support decoupling from energy sector dependencies on Russia and China, and strengthen United States bilateral relations with enterprise countries. (D) An assessment of required appropriations or additional needed authorities for the United States to carry out public sector opportunities listed pursuant to subsection (c). (E) An assessment of actions required by the private sector and opportunities for the United States to provide support to the private sector to carry out private sector opportunities listed pursuant to subsection (c).