Expresses congressional concern over the detrimental effects of currency manipulation by foreign governments on the U.S. economy, especially the manufacturing sector. Calls on the President to: (1) vigorously enforce U.S. trade laws dealing with such practices; (2) encourage the harmonization of an international exchange rate policy of freely floating exchange rates based on market forces; and (3) review all tools available to counteract currency manipulation. Urges that: (1) the executive branch take certain steps to enable the dollar and other major currencies to move toward their equilibrium rates; (2) the Secretary of the Treasury include in each semiannual report on international economic and exchange rate policies the currency manipulation practices of foreign governments; and (3) the U.S. Trade Representative take action under section 301 of the Trade Act of 1974 to combat such practices should negotiations fail to produce meaningful results.
HCONRES 285 - 108Expressing the concern of the Congress regarding the detrimental impact on the United States economy of the manipulation by foreign governments of their currencies.
Referred to the Subcommittee on Trade.
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Summary
Sponsors
Timeline
Referred to the Subcommittee on Trade.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.