This bill requires the United States to oppose any increase in voting power for China at the International Monetary Fund unless China meets certain currency practices.
If you care about fair international trade, this bill prevents China from gaining more influence at the International Monetary Fund.
Who this affects
U.S. policymakers · international trade relations with China
What changes is this bill making?
1The United States will oppose any increase in voting power for China at the International Monetary Fund.
2The Secretary of the Treasury must report on China's exchange rate practices before any voting power increase is considered.
3If China does not meet specific criteria regarding its currency practices, the U.S. will vote against the increase.
4The President can waive this opposition if it is deemed important for U.S. national interests.
5This law will remain in effect for seven years after it is enacted.
