China Exchange Rate Transparency Act of 2023
1/4/2024, 4:45 PMSummary of Bill HR 839
Bill 118 hr 839, also known as the China Exchange Rate Transparency Act of 2023, aims to address concerns regarding China's exchange rate practices. The bill requires the Secretary of the Treasury to submit a report to Congress on China's exchange rate policies and practices, including an assessment of whether China is manipulating its currency to gain an unfair trade advantage.The bill also requires the Secretary of the Treasury to engage with China on the issue of exchange rate transparency and to work with international organizations to address any concerns regarding China's exchange rate practices. Additionally, the bill calls for the establishment of a task force to monitor and report on China's exchange rate policies and practices.
Overall, the China Exchange Rate Transparency Act of 2023 seeks to promote transparency and accountability in China's exchange rate practices and to ensure that China is not engaging in unfair trade practices that harm American businesses and workers.
Congressional Summary of HR 839
China Exchange Rate Transparency Act of 2023
This bill requires the U.S. Executive Director at the International Monetary Fund (IMF) to use the voice and vote of the United States to advocate for increased exchange rate transparency from China. Some areas of focus for this advocacy are (1) Chinese exchange rate arrangements, including any indirect foreign exchange market intervention through Chinese financial institutions or state-owned enterprises; and (2) Chinese compliance with information requests from the IMF regarding Chinese exchange rate policies and holdings.
The requirements of the bill expire seven years and 30 days after the date of the bill's enactment or earlier if China meets certain conditions regarding its exchange rate policies.
Read the Full Bill
Current Status of Bill HR 839
Bill HR 839 is currently in the status of Bill Introduced since February 6, 2023. Bill HR 839 was introduced during Congress 118 and was introduced to the House on February 6, 2023. Bill HR 839's most recent activity was Placed on the Union Calendar, Calendar No. 235. as of December 1, 2023Bipartisan Support of Bill HR 839
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
2Republican Cosponsors
4Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 839
Primary Policy Focus
International AffairsPotential Impact Areas
AsiaChinaInternational monetary system and foreign exchangeAlternate Title(s) of Bill HR 839
China Exchange Rate Transparency Act of 2023China Exchange Rate Transparency Act of 2023China Exchange Rate Transparency Act of 2023To require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People's Republic of China, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of HR 839
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