There is 1 version of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Currency Reform for Fair Trade Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend title VII of the Tariff Act of 1930 to clarify that countervailing duties may be imposed to address subsidies relating to a fundamentally undervalued currency of any foreign country.

Actions Overview (1)

Date Actions Overview
02/10/2015Introduced in House

All Actions (3)

Date All Actions
02/27/2015Referred to the Subcommittee on Trade.
Action By: Committee on Ways and Means
02/10/2015Referred to the House Committee on Ways and Means.
Action By: House of Representatives
02/10/2015Introduced in House
Action By: House of Representatives

Cosponsors (39)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Ryan, Tim [D-OH-13]* 02/10/2015
Rep. Brooks, Mo [R-AL-5]* 02/10/2015
Rep. Murphy, Tim [R-PA-18]* 02/10/2015
Rep. Kaptur, Marcy [D-OH-9] 04/15/2015
Rep. Foster, Bill [D-IL-11] 04/15/2015
Rep. Welch, Peter [D-VT-At Large] 04/15/2015
Rep. McKinley, David B. [R-WV-1] 04/15/2015
Rep. Joyce, David P. [R-OH-14] 04/15/2015
Rep. Lipinski, Daniel [D-IL-3] 04/15/2015
Rep. DeFazio, Peter A. [D-OR-4] 04/15/2015
Rep. Tonko, Paul [D-NY-20] 04/15/2015
Rep. Kuster, Ann M. [D-NH-2] 04/15/2015
Rep. Schrader, Kurt [D-OR-5] 04/15/2015
Rep. Blumenauer, Earl [D-OR-3] 04/15/2015
Rep. Jones, Walter B., Jr. [R-NC-3] 04/15/2015
Rep. McDermott, Jim [D-WA-7] 04/15/2015
Rep. Langevin, James R. [D-RI-2] 04/15/2015
Rep. Higgins, Brian [D-NY-26] 04/15/2015
Rep. Nolan, Richard M. [D-MN-8] 04/15/2015
Rep. Duckworth, Tammy [D-IL-8] 04/15/2015
Rep. Rush, Bobby L. [D-IL-1] 04/15/2015
Rep. Swalwell, Eric [D-CA-15] 04/15/2015
Rep. Clark, Katherine M. [D-MA-5] 04/15/2015
Rep. Visclosky, Peter J. [D-IN-1] 04/15/2015
Rep. Griffith, H. Morgan [R-VA-9] 04/15/2015
Rep. Turner, Michael R. [R-OH-10] 04/15/2015
Rep. McCollum, Betty [D-MN-4] 05/22/2015
Rep. Barletta, Lou [R-PA-11] 05/22/2015
Rep. Brownley, Julia [D-CA-26] 05/22/2015
Rep. Williams, Roger [R-TX-25] 05/22/2015
Rep. Kelly, Robin L. [D-IL-2] 05/22/2015
Rep. Rogers, Harold [R-KY-5] 05/22/2015
Rep. Yarmuth, John A. [D-KY-3] 05/22/2015
Rep. Perlmutter, Ed [D-CO-7] 09/15/2015
Rep. Gibson, Christopher P. [R-NY-19] 09/15/2015
Rep. Van Hollen, Chris [D-MD-8] 09/15/2015
Rep. Edwards, Donna F. [D-MD-4] 10/09/2015
Rep. Sherman, Brad [D-CA-30] 10/09/2015
Rep. Kildee, Daniel T. [D-MI-5] 11/19/2015

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means02/10/2015 Referred to
House Ways and Means Subcommittee on Trade02/27/2015 Referred to

No related bill information was received for H.R.820.

Subjects (7)

Latest Summary (1)

There is one summary for H.R.820. View summaries

Shown Here:
Introduced in House (02/10/2015)

Currency Reform for Fair Trade Act

Amends the Tariff Act of 1930 to include as a "countervailable subsidy" requiring action under a countervailing duty or antidumping duty proceeding the benefit conferred on merchandise imported into the United States from foreign countries with fundamentally undervalued currency.

Defines "benefit conferred," in cases where the currency of a foreign country is exchanged for foreign currency (i.e., U.S. dollars) obtained from export transactions, as the difference between: (1) the amount of currency provided by a foreign country in which the subject merchandise is produced, and (2) the amount of currency such country would have provided if the real effective exchange rate of its currency were not fundamentally undervalued.

Declares that the fact that such a subsidy is also provided in circumstances not involving export shall not, for that reason alone, mean it cannot be considered export contingent and actionable under a countervailing duty and antidumping duty proceeding.

Requires the administering authority to determine that the currency of a foreign country is fundamentally undervalued if for an 18-month period: (1) the government of the country engages in protracted, large-scale intervention in one or more foreign exchange markets; (2) the country's real effective exchange rate is undervalued by at least 5%; (3) the country has experienced significant and persistent global current account surpluses; and (4) the country's government has foreign asset reserves exceeding the amount necessary to repay all its debt obligations falling due within the coming 12 months, 20% percent of the country's money supply, and the value of the country's imports during the previous 4 months.

Requires the use, for calculating a country's "real effective exchange rate undervaluation," of certain guidelines of the Consultative Group on Exchange Rate Issues of the International Monetary Fund or, if those guidelines are not available, generally accepted economic and econometric techniques and methodologies. Requires the use, also, of inflation-adjusted, trade-weighted exchange rates.

Applies the amendments made by this Act to goods from Canada and Mexico.