; (6) emphasizing differences in business practices between the United States and China, particularly those relating to the rule of law, transparency, and financing; and (7) fostering and enabling economic and technical data sharing relating to contract costs, structuring, and terms, including loan terms, cost overruns, and quality assurance, among regional governments and the United States. (c) Consultation During the planning of the initiatives described in subsection (b), the Secretary of State, in coordination with the Administrator of the United States Agency for International Development, the Chief Executive Officer of the United States International Development Finance Corporation, the Director of the United States Trade Development Agency’s Global Procurement Initiative, and representatives of the Department of the Treasury’s Office of Technical Assistance, shall consult with representatives of the private sector and nongovernmental organizations in the United States, Latin America, and the Caribbean. (d) Briefing requirement Not later than 1 year after the date of the enactment of this Act, and every 180 days thereafter, the Secretary of State shall provide a briefing regarding the initiatives described in subsection (b) to— (1) the Committee on Foreign Relations of the Senate ; and (2) the Committee on Foreign Affairs of the House of Representatives . (e) Baseline assessment Not later than 180 days after the date of the enactment of this Act, the Secretary of State shall submit a report to the congressional committees referred to in subsection (d) that assesses, based on credible indices of the performance of the rule of law (including the World Justice Project’s Rule of Law Index), the progress made by Latin American and Caribbean governments toward strengthening the rule of law, reducing corruption, and creating greater transparency in business practices, including through— (1) standardizing and regulating procurement practices