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H.R. 782 · 110th Congress

Fair Currency Act of 2007

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

TRD RyanSponsor
119 cosponsors · 66 D, 53 R
JAD Altmire PDD DeFazio RDD DeLauro MDD Doyle VER Ehlers VFR Foxx JGR Gerlach DHR Hunter RHR Hayes RHD Holt DKD Kildee DLD Lipinski JMD McGovern JMR McHugh AMD Mollohan SMR Myrick DMR Manzullo KMD Meek MMD Michaud CMR Miller CNR Norwood DRR Rohrabacher RRR Renzi JSR Saxton FSR Sensenbrenner LSD Slaughter MSR Souder JSD Schakowsky ZSD Space BSD Sutton JWR Wilson TWD Walz DBR Burton SLR LaTourette CMD Maloney JMD Marshall CSD Shea-Porter CWD Wilson JDR Duncan GGD Green TMR McCotter JMD McNerney GND Napolitano LWR Westmoreland SBR Bachus PGR Gillmor VGR Goode THD Holden WJR Jones CKD Kilpatrick SKD Kagen SLD Lynch JCD Conyers FLR LoBiondo EPD Pastor LSD Sánchez MKD Kaptur HRR Rogers DPD Payne PVD Visclosky LBD Boswell CBD Brown HBR Brown JBR Bonner GKD Butterfield WCD Clay JDD Dingell JDD Donnelly CED Edwards RGD Grijalva LGR Gohmert AGD Green BHD Higgins DIR Issa DKD Kucinich GMD Miller MMR McCaul JPR Pitts ZWR Wamp TRR Reynolds JGR Gresham Barrett BBD Braley CCD Carney GTD Taylor RBR Bishop BED Etheridge BIR Inglis MRR Rogers PMR McHenry JSD Spratt BSR Shuster WAR Akin MBD Berry JJD Jackson CMD Murphy JOD Olver TPR Platts RAR Aderholt TBD Bishop SCR Chabot NDR Deal BSD Stupak TFR Franks MTR Turner CMD McCarthy HJD Johnson CSR Stearns TMR Murphy HSD Shuler EJD Johnson LSD Sanchez HCR Coble PGR Gingrey TAD Allen RCD Carnahan BGR Goodlatte KCD Castor PHD Hare DMD Matsui

32 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Fair Currency Act of 2007 - Amends the Tariff Act of 1930 to expand the authority of the administering authority or the International Trade Commission (ITC) to impose countervailing duties on products from a nonmarket economy country that have been provided a countervailable subsidy.

What it does: CRS summary · Introduced in House · Jan 31, 2007

Fair Currency Act of 2007 - Amends the Tariff Act of 1930 to expand the authority of the administering authority or the International Trade Commission (ITC) to impose countervailing duties on products from a nonmarket economy country that have been provided a countervailable subsidy. Includes exchange-rate misalignment (undervaluation of a foreign currency) by a country as a countervailable subsidy. Requires the administering authority to use methodologies that measure certain benchmarks outside of a nonmarket economy country where exchange-rate misalignment exists when measuring the benefit of a countervailable subsidy bestowed on a product by such country in a countervailing duty proceeding.

Amends the Trade Act of 1974 to include exchange-rate misalignment by the People's Republic of China as a condition in determining market disruption to the domestic producers of a like or directly competitive product from products imported from China.

Prohibits the Department of Defense (DOD) from procuring defense articles imported from China if such articles are competitive with domestic industry articles critical to the defense industrial base of the United States.

Applies provisions of this Act to goods from Canada and Mexico.

Amends the Exchange Rates and International Economic Policy Coordination Act of 1988 to direct the Secretary of the Treasury to consider in the annual analysis of foreign exchange rate policies whether countries have a currency that is in fundamental misalignment, and if so, to initiate bilateral corrective negotiations.

Directs the Secretary, prior to U.S. approval of a change in an international financial institution's governance, to determine whether a member who would benefit from such change has a currency that is manipulated or in fundamental misalignment, and if so, oppose such change.

Amends the Tariff Act of 1930 to require the administering authority, in determining whether a country is a nonmarket economy country, to consider whether such country's manipulation or fundamental misalignment of its currency adversely affects the U.S. economy.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Fair Currency Act of 2007

Latest action (Apr 12, 2007): Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Jan 31, 2007

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.