Bill > HR8290

This bill, titled the "Exchange Rate Accountability Act of 2026," aims to ensure fair international trade practices by amending the Bretton Woods Agreements Act. It requires the Secretary of the Treasury to report to Congress on whether a foreign member country of the International Monetary Fund (IMF), specifically one of the ten largest shareholders, has met certain criteria in the preceding 12 months. These criteria include not violating IMF obligations, maintaining transparent exchange rate policies, publishing credible balance of payments data, and not unfairly manipulating its currency's exchange rate against the U.S. dollar to gain a trade advantage or prevent necessary economic adjustments, especially if it has a current account surplus. If the Secretary determines a country fails to meet any of these criteria, the United States must use its vote and voice within the IMF to oppose any increase in that country's quota, which represents its financial contribution and voting power in the organization. The President can waive this opposition if deemed important to U.S. national interest, but must explain the reasons to Congress. This provision will be in effect for seven years.