3.0.0 2414 2019-11-15T21:48:34Z 2019-11-15T21:48:34Z House H HR 2005-05-17 109 hswm00 Ways and Means Committee House Standing hswm04 Trade Subcommittee Referred to 2005-05-26T15:13:58Z Referred to 2005-05-17T13:00:45Z 2005-05-26 hswm04 Trade Subcommittee 1 House committee actions Referred to the Subcommittee on Trade. Committee 2005-05-17 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2005-05-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-05-17 Introduced in House IntroReferral 1000 9 Library of Congress R000572 Rep. Rogers, Mike J. [R-MI-8] Mike Rogers R MI 8 N M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2005-05-17 True Foreign Trade and International Finance Balance of payments China Congress Congress and foreign policy Congressional oversight Congressional reporting requirements Currency devaluation Dispute settlement East Asia Export subsidies Exports Foreign exchange Governmental investigations Imports International Affairs International agencies International competitiveness Tariff Foreign Trade and International Finance 00 2005-05-17 Introduced in House 2005-07-12T20:42:42Z Currency Rate Adjustment and Trade Enforcement Act - Requires the Secretary of the Treasury to analyze the exchange rate policies of the People's Republic of China (PRC) to determine whether the PRC maintains the rate of exchange between its currency and the U.S. dollar in a manner that interferes with effective balance of payments adjustments or confers a competitive advantage in international trade that would not exist if the currency value were set by market forces. Directs the Secretary, if such determination is affirmative, to compute the rate of undervaluation against the dollar in the form of a percentage.

Requires the Secretary to determine the PRC global balance of trade by comparing China's import and export data by country, as reported by the Chinese Government, with its export and import data, as reported by the government of each country that is a trading partner of China, taking into account reexports to and from China through Hong Kong.

Requires the President, in any case in which a report of the Secretary to specified congressional committees includes a rate of undervalution, to seek authorization in the World Trade Organization (WTO) through dispute settlement to: (1) offset the subsidy inherent in the undervalued currency by the application of across-the-board equivalent tariffs, on the basis of the rate of such undervaluation, on the importation into the United States of all PRC products; and (2) take measures to offset the disadvantage resulting from such undervaluation to exports to the PRC of U.S. goods and services.

Requires annual modifications of such measure, consistent with U.S. and WTO obligations, to the extent necessary to comply with the Secretary's most recent report.

Authorizes the Secretary to modify any imposed measures or modifications 30 days after notifying Congress of a substantial change in the PRC's degree of currency undervaluation.

]]> Currency Rate Adjustment and Trade Enforcement Act Short Titles as Introduced Currency Rate Adjustment and Trade Enforcement Act Display Title Currency Rate Adjustment and Trade Enforcement Act Official Title as Introduced To require the Secretary of the Treasury to analyze and report on the exchange rate policies of the People's Republic of China, and to require that measures consistent with the obligations of the United States under the World Trade Organization be taken to offset any disadvantage to United States producers resulting from China's exchange rate policies. Introduced in House 2005-05-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr2414ih/xml/BILLS-109hr2414ih.xml 2005-05-26 Referred to the Subcommittee on Trade. 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.