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The American Economic Independence Act of 2024 requires the President to submit a comprehensive report to Congress within one year of enactment, and then every three years for 15 years, analyzing the economic integration between the United States and China and the national security risks posed by that integration. The report must examine ten priority sectors including semiconductors, artificial intelligence, critical minerals, pharmaceuticals, financial services, and communications, assessing current and projected economic ties, supply chain vulnerabilities, intellectual property theft risks, and the potential impact on America's defense capabilities. The bill directs the Director of the Office of Management and Budget to coordinate with cabinet officials and intelligence agencies including the State Department, Defense Department, and National Intelligence Director in preparing these assessments. The reports will include recommendations for government action to reduce identified national security risks and will be submitted in unclassified form, though they may include classified annexes. No funding amount is specified in the legislation, and the Paperwork Reduction Act does not apply to these reporting requirements.

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