3.0.0 2927 2023-01-14T22:48:35Z 2023-01-14T22:48:35Z Senate S S 2004-10-07 108 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2004-10-07T20:48:39Z 2004-10-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2004-10-07 Introduced in Senate IntroReferral 10000 9 Library of Congress S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. N G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2004-10-07 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2004-10-07 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2004-10-07 True D000388 Sen. Dodd, Christopher J. [D-CT] CHRISTOPHER DODD D CT JOHN 2004-10-07 True Foreign Trade and International Finance Balance of payments Congress Congress and foreign policy Congressional reporting requirements Foreign exchange International Affairs Negotiations Foreign Trade and International Finance 00 2004-10-07 Introduced in Senate 2004-12-01T22:04:49Z Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 with respect to bilateral negotiations with countries considered to manipulate the rate of exchange between their currency and the U.S. dollar for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.

Reduces the preconditions for the initiation of negotiations by the Secretary of the Treasury to possession of significant bilateral trade surpluses with the United States (removing the other current condition of possession of material global current account surpluses).

Declares that a country shall be considered to be manipulating the rate of exchange between its currency and the U.S. dollar if there is a protracted large-scale intervention in one direction in the exchange markets.

Requires the Secretary's annual report to specified congressional committees on international economic policy to include a detailed explanation of the test the Secretary uses to determine whether or not a country is manipulating the rate of exchange.

]]> A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes. Display Title A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes. Official Title as Introduced A bill to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes. Introduced in Senate IS Introduced in Senate 2004-10-07T04:00:00Z 2004-10-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.