Bill > HR4522

This bill aims to address unfair export subsidies by China and strengthen U.S. efforts to ensure China's compliance with international trade standards. Specifically, the bill requires the Secretary of the Treasury to develop a detailed strategy within 180 days to work with U.S. allies in pushing China to adhere to the OECD Arrangement on Officially Supported Export Credits. The bill modifies existing law to shift negotiation responsibilities from the President to the Secretary of the Treasury (in consultation with the U.S. Trade Representative), mandating that international negotiations on export subsidies occur at least twice per year. Additionally, the bill establishes new criteria for determining currency manipulation by China, requiring the Treasury Secretary to consider factors such as China's compliance with International Monetary Fund (IMF) obligations, the transparency of its exchange rate management, and government support for specific economic sectors. If China is found to be manipulating its currency exchange rate, the U.S. would be directed to oppose any increases to China's quota in the IMF. The overall goal is to create more accountability and pressure on China to play by international trade and monetary rules.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/4522/all-info