H.R. 8163 · 116th Congress
Countering China Through American Export Competitiveness Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsorNo cosponsors.
This bill modifies certain responsibilities of the Export-Import Bank of the United States related to its Program on China and Transformational Exports.
What it does: CRS summary · Introduced in House · Sep 4, 2020
Countering China Through American Export Competitiveness Act
This bill modifies certain responsibilities of the Export-Import Bank of the United States related to its Program on China and Transformational Exports. The program supports financing at rates and on terms that are fully competitive with rates and terms established by China in order to (1) directly neutralize export subsidies for competing goods and services, or (2) advance the comparative leadership of the United States through specified exports.
The bill prohibits the bank generally from guaranteeing, insuring, or extending credit for which the end user, lender, or obligor is China. The bill also raises from 20% to 33% the dedicated amount that the bank should reserve for the program, and it sets the default rate limit for program loans at 5%.
The bill authorizes the bank to waive some, or all, of the domestic content requirements that would otherwise apply to a transaction if it determines that doing so would be in the national security interest of the United States. The bill also establishes an advisory committee to advise the bank on the development of policies and programs that support the expansion of the bank's financial commitments in accordance with the program to counter China.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Countering China Through American Export Competitiveness Act
Latest action (Sep 4, 2020): Referred to the House Committee on Financial Services.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Sep 4, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.