Producing Returns and Opportunity for Investment and Trade Act of 2026

Key Points

• The bill restructures the State Department's economic leadership by creating a new Under Secretary for Economic Affairs who oversees trade, energy, technology, critical minerals, sanctions, and space policy. This position replaces the current Under Secretary for Economic Growth, Energy and the Environment.
• A new Office of Subnational Diplomacy would help state, county, city, and municipal governments attract foreign investment, counter foreign influence, and engage with foreign governments on shared priorities.
• The bill creates a Chief Economist position and office within the State Department to analyze how economic trends affect national security and diplomacy, including supply chain resilience and critical mineral access. The Chief Economist must report to Congress on U.S. international economic strategy.
• A new Bureau of Energy Security and Diplomacy would lead international energy policy, promote U.S. energy exports, diversify critical mineral supply chains, and coordinate with agencies like the Departments of Energy, Commerce, and Defense.
• The bill elevates sanctions coordination to a full Assistant Secretary role with its own bureau, giving the sanctions team authority to develop strategy, coordinate with allies, and combat money laundering, terrorist financing, and cybercrimes.