Bill > S433

This bill, the Currency Undervaluation Investigation Act, amends the Tariff Act of 1930 to establish a process for investigating and addressing situations where a foreign country's government or a public entity within it artificially lowers the value of its currency, which can act as an unfair subsidy to its exporters. Specifically, it requires the "administering authority" (likely a government agency like the Department of Commerce) to start an investigation into whether currency undervaluation is providing a "countervailable subsidy" – a financial benefit that unfairly helps domestic producers compete – if an "interested party" (like a domestic industry or union) files a petition with supporting evidence. The bill also clarifies that even if a subsidy is available in situations not related to exports, it can still be considered an export subsidy if currency undervaluation is involved, making it actionable under countervailing and antidumping duty laws. Furthermore, it outlines a specific methodology for calculating the benefit of currency undervaluation, comparing real exchange rates derived from macroeconomic and equilibrium approaches to the official exchange rate, and specifies that this methodology applies to goods from Canada and Mexico.