Countering Online Harms Act This bill requires the Federal Trade Commission to study and report on how artificial intelligence may be used to identify, remove, and take action to address online harms, including (1) scams directed at older adults; (2) intentionally misleading content; (3) disinformation campaigns to influence elections; and (3) content furthering other illegal activity such as the sale of opioids, child sexual exploitation, terrorism, and the sale of counterfeit products.