3.0.0 2765 2023-01-14T22:48:25Z 2023-01-14T22:48:25Z Senate S S 2004-07-22 108 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2004-07-23T01:09:32Z 2004-07-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8754) IntroReferral 2004-07-22 Introduced in Senate IntroReferral 10000 9 Library of Congress S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. N V000126 Sen. Voinovich, George V. [R-OH] GEORGE VOINOVICH R OH V. 2004-07-22 True D000601 Sen. Dole, Elizabeth [R-NC] Elizabeth Dole R NC H. 2004-07-22 True Foreign Trade and International Finance Balance of payments Congress Congress and foreign policy Congressional reporting requirements Foreign exchange International Affairs International competitiveness Trade negotiations Foreign Trade and International Finance 00 2004-07-22 Introduced in Senate 2004-08-30T21:07:05Z Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 with respect to the conditions for required actions by the Secretary of the Treasury to initate expedited negotiations for exchange rate adjustments by a foreign country the Secretary considers to be manipulating the rate of exchange between its currency and the U.S. dollar in order to prevent effective balance of payments adjustments or gain unfair competitive advantage in international trade.

Repeals the requirement that such a country have a material global account surplus as well as a significant bilateral trade surplus with the United States. (Thus requires only that it have a significant bilateral trade surplus with the United States; that is, the Secretary is required to take action to initiate exchange rate adjustment negotiations with any country that has a significant bilateral trade surplus with the United States, regardless of its material global account status.)

Requires the Secretary's annual report to specified congressional committees to contain a detailed explanation of the test used to determine if a country is manipulating the rate of exchange between its currency and the dollar for such purposes.

]]> A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the conditions under which the Secretary should enter into negotiations to correct currency manipulations by other countries. Display Title A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the conditions under which the Secretary should enter into negotiations to correct currency manipulations by other countries. Official Title as Introduced A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the conditions under which the Secretary should enter into negotiations to correct currency manipulations by other countries. Introduced in Senate IS Introduced in Senate 2004-07-22T04:00:00Z 2004-07-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8754) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.