Fair Rate of Exchange Act

Summary

Fair Rate of Exchange Act - Imposes a currency equalization contribution (in addition to any customs duty or fee) on any article imported into the United States. Sets the amount of such contribution as a specified currency equalization percentage of the customs valuation of the imported article. Establishes within the Treasury an Exchange Rate Equalization Fund. Provides that all such currency equalization contributions shall be deposited in such Fund. Allows a manufacturer, producer, or grower of a product of the United States, upon the exportation of that product from the United States, to apply to the Secretary of Commerce for a currency equalization payment for the product. Provides that such payments shall be made from the Fund. Specifies the dollar appreciation percentage or the ratio of the U.S. merchandise trade balance to the gross national product that would trigger the termination of this Act.

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1 official file

• Introduced in House

  summary · EN · 9 July 1985

  Open at official source

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