3.0.0 377 2019-11-15T21:52:32Z 2019-11-15T21:52:32Z Senate S S 2005-02-15 109 ssfi00 Finance Committee Senate Standing Referred to 2005-02-15T17:27:51Z 2005-02-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1417-1418) IntroReferral 2005-02-15 Sponsor introductory remarks on measure. (CR S1417) IntroReferral B00100 9 Library of Congress 2005-02-15 Introduced in Senate IntroReferral 10000 9 Library of Congress L000304 Sen. Lieberman, Joseph I. [D-CT] JOSEPH LIEBERMAN D CT I. N Foreign Trade and International Finance Armed Forces and National Security Balance of payments Budget deficits Commerce Congress Congressional reporting requirements Dispute settlement East Asia Economics and Public Finance Finance and Financial Sector Foreign exchange Foreign trade promotion Free trade Government Operations and Politics Governmental investigations Interest rates International Affairs International agencies International competitiveness International cooperation International monetary system Manufacturing industries Negotiations Nontariff trade barriers President and foreign policy Public debt Restrictive trade practices Trade agreements Trade negotiations Foreign Trade and International Finance 00 2005-02-15 Introduced in Senate 2005-03-24T22:40:36Z Fair Currency Enforcement Act of 2005 - Directs the President to: (1) begin bilateral and multilateral negotiations for a 90-day period with those governments of nations determined to be engaged most egregiously in currency manipulation; (2) seek a prompt and orderly end to such currency manipulation; and (3) ensure that the currencies of these countries are freely traded on international currency markets, or are established at a level that reflects a more appropriate and accurate market value.

Requires the International Trade Commission (ITC), during the 90-day negotiation period, to study and report to the President, the U.S. Trade Representative (USTR), the Secretary of the Treasury, and the appropriate congressional committees on currency manipulation by trading countries to increase their exports to the United States and limit their imports of U.S. products.

Directs the President, at the end of the negotiation period, if agreements are not reached to end currency manipulation promptly, to: (1) institute proceedings under the relevant U.S. and international trade law with respect to those countries that, based on the ITC findings, continue to engage in the most egregious currency manipulation; and (2) seek appropriate damages and remedies for the Nation's manufacturers and other affected parties.

Requires reports to the appropriate congressional committees on: (1) the effects on U.S. national security of countries engaging in significant currency manipulations, as well as the effect of such manipulation on critical manufacturing sectors; (2) other trade practices and trade barriers by major East Asian trading nations (China, Japan, South Korea, Taiwan, among others) potentially in violation of international trade agreements; and (3) steps that could be taken to significantly improve trade enforcement efforts against unfair trade practices by competitor trading nations, and trade promotion for U.S. goods and services.

]]> Fair Currency Enforcement Act of 2005 Short Titles as Introduced Fair Currency Enforcement Act of 2005 Display Title Fair Currency Enforcement Act of 2005 Official Title as Introduced A bill to require negotiation and appropriate action with respect to certain countries that engage in currency manipulation. Introduced in Senate 2005-02-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s377is/xml/BILLS-109s377is.xml 2005-02-15 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1417-1418) 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.