Protecting America from Narcotics and Illicit Chemicals Act of 2022 or the PANIC Act of 2022 This bill expands the definition of major illicit drug producing country to include a country that is a direct source of certain drugs (or precursor chemicals for producing such drugs) that are significantly affecting the United States. (Under current law, a country designated a major illicit drug producing country may be eligible for certain U.S. foreign assistance, including transfers of excess defense articles. However, a designated country that fails to adhere to commitments related to drug control measures may be barred from receiving other forms of foreign assistance and may also be subject to trade restrictions.)