Bill Overview
Title: Trade with China Strategic Assessment Act of 2022
Description: This bill directs the Department of Commerce to report to Congress on the state of economic integration between the United States and China.
Sponsors: Sen. Portman, Rob [R-OH]
Target Audience
Population: Businesses and individuals involved in U.S.-China trade
Estimated Size: 20000000
- The bill focuses on economic integration between the U.S. and China, indicating it will impact businesses engaged in trade between the two countries.
- The evaluation of economic integration by the U.S. Department of Commerce may lead to policy changes affecting future trade agreements between the U.S. and China.
- Changes in trade policies affect workers, producers, and consumers related to imported and exported goods and services.
- The global supply chain could be influenced by modifications in U.S.-China economic policies.
Reasoning
- The policy focuses on economic integration between the U.S. and China, targeting businesses involved in U.S.-China trade. The impact will vary based on the type of trade, the size of the business, and the individual's role within the economy.
- Wellbeing changes will largely reflect potential shifts in trade policy following the report, affecting economic stability, job security, and market prices.
- The population distribution will include a mix of individuals deeply integrated in trade activities, those moderately influenced, and some not impacted at all.
- The policy budget is modest given the scope of the impact, suggesting changes will be more foundational or informational rather than immediately impactful.
Simulated Interviews
Supply Chain Manager (Los Angeles, CA)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I believe any assessment that brings insight into our trade relationship with China is valuable.
- I'm concerned about potential tariffs or restrictions that might arise.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 6 |
Owner of a small agricultural export firm (Austin, TX)
Age: 52 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- I'm apprehensive because our exports to China are a large part of our revenue.
- The assessment could lead to policies that might either benefit or hurt our business.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 8 | 4 |
Tech Startup Founder (Seattle, WA)
Age: 34 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- This report is crucial as it will inform how we navigate market penetration strategies.
- I'm hopeful it paves the way for better digital trade policies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 7 |
Retail Buyer (New York, NY)
Age: 29 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 15/20
Statement of Opinion:
- I'm concerned about any changes that could affect product prices and availability.
- The report might help stabilize trade relations, which would be a relief.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Automotive Engineer (Detroit, MI)
Age: 58 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- Economic assessments like this are necessary to address potential risks in our supply chain.
- The impact could be significant if tariffs or sanctions are modified.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Policy Analyst (Chicago, IL)
Age: 41 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 2/20
Statement of Opinion:
- This assessment is a cornerstone for making informed trade-related policies.
- I believe it can facilitate better trade relations and economic strategies.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
Retired (Houston, TX)
Age: 63 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 20/20
Statement of Opinion:
- Prices of goods are a concern for my fixed income.
- Any policy that stabilizes or reduces cost is beneficial.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Freelance Graphic Designer (Miami, FL)
Age: 25 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 18/20
Statement of Opinion:
- This policy doesn't directly affect my work, but I'm interested in the broader economic implications.
- Trade can influence trends and consumer goods pricing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Import/Export Consultant (San Francisco, CA)
Age: 38 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- A comprehensive understanding of our trade dynamics with China is essential for my clientele.
- This report could simplify compliance and regulatory frameworks.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 8 |
Environmental Activist (Boulder, CO)
Age: 31 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 12/20
Statement of Opinion:
- I hope this assessment considers environmental impacts of U.S.-China trade.
- Trade policies should align with sustainability goals.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Cost Estimates
Year 1: $10000000 (Low: $7000000, High: $15000000)
Year 2: $0 (Low: $0, High: $0)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The bill mandates a report; it does not include policy implementations directly affecting trade.
- Indirect impacts could arise from future legislation or executive actions informed by the report's findings.
- Administration of the report involves cross-departmental cooperation, especially involving the Department of Commerce.
- Potential international trade responses or adaptations due to the report should be monitored.