Currency Reform for Fair Trade Act of 2007

Summary

Currency Reform for Fair Trade 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. Requires, when measuring subsidy benefits, the use of benchmarks outside of a nonmarket economy country when benchmarks in such a country are not available or are inappropriate. Includes fundamental and actionable misalignment of a currency (undervaluation of a foreign currency) by a foreign country as a countervailable subsidy. Directs the Secretary of the Treasury (Secretary) to: (1) report annually to Congress on international monetary policy and currency exchange rates (including fundamentally misaligned currencies); (2) analyze semiannually the prevailing real exchange rates between the U.S. dollar and foreign currencies and to designate fundamentally misaligned foreign currencies for priority action; and (3) seek bilateral consultations with fundamentally misaligned currency countries designated for priority action to eliminate such misalignment. Requires the United States to inform the Managing Director of the International Monetary Fund (IMF) of countries that fail to eliminate fundamentally misaligned currencies designated for priority action and to request the IMF Managing Director to consult with such countries regarding their observance of the IMF Articles of Agreement and to report the results of such consultations to the IMF Executive Board. Prohibits the Overseas Private Investment Corporation (OPIC) from, and instructs multilateral banks to oppose, financing projects in countries that issue fundamentally misaligned currencies designated for priority action. Requires: (1) the Secretary to take certain actions with respect to countries that fail to eliminate fundamentally misaligned currencies designated for priority action; and (2) the United States Trade Representative (USTR) to request consultations in the World Trade Organization (WTO) with such countries regarding the consistency of their actions with regard the WTO Agreement. Establishes an Advisory Committee on International Exchange Rate Policy. Repeals the Exchange Rates and International Economic Policy Coordination Act of 1988.

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Timeline

1. 28 June 2007

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 28 June 2007

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 28 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 28 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

5. 12 July 2007

   Referred

   Referred to the Subcommittee on Trade.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 June 2007 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 June 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 June 2007

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 28 June 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Ryan, Tim [D-OH-13] · D · Sponsor
• Rep. Hunter, Duncan [R-CA-52] · R · Sponsor
• Rep. Burton, Dan [R-IN-5] · R · Cosponsor
• Rep. McCarthy, Carolyn [D-NY-4] · D · Cosponsor
• Sen. Murphy, Christopher [D-CT] · D · Cosponsor
• Rep. Shuler, Heath [D-NC-11] · D · Cosponsor
• Rep. Altmire, Jason [D-PA-4] · D · Cosponsor
• Rep. Michaud, Michael H. [D-ME-2] · D · Cosponsor
• Rep. Wilson, Charles A. [D-OH-6] · D · Cosponsor
• Rep. McGovern, James P. [D-MA-2] · D · Cosponsor
• Rep. DeLauro, Rosa L. [D-CT-3] · D · Cosponsor
• Rep. Kildee, Dale E. [D-MI-5] · D · Cosponsor
• Rep. Sutton, Betty [D-OH-13] · D · Cosponsor
• Rep. Gerlach, Jim [R-PA-6] · R · Cosponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Cosponsor
• Rep. Hayes, Robin [R-NC-8] · R · Cosponsor
• Rep. Sanchez, Loretta [D-CA-46] · D · Cosponsor
• Rep. Edwards, Chet [D-TX-17] · D · Cosponsor
• Rep. Visclosky, Peter J. [D-IN-1] · D · Cosponsor
• Rep. Meek, Kendrick B. [D-FL-17] · D · Cosponsor
• Rep. Jackson, Jesse L., Jr. [D-IL-2] · D · Cosponsor
• Rep. Gingrey, Phil [R-GA-11] · R · Cosponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Cosponsor
• Sen. Donnelly, Joe [D-IN] · D · Cosponsor
• Rep. Gallegly, Elton [R-CA-24] · R · Cosponsor
• Rep. LaTourette, Steven C. [R-OH-14] · R · Cosponsor
• Rep. Space, Zachary T. [D-OH-18] · D · Cosponsor
• Rep. McHugh, John M. [R-NY-23] · R · Cosponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Cosponsor
• Rep. Inglis, Bob [R-SC-4] · R · Cosponsor
• Rep. Dingell, John D. [D-MI-12] · D · Cosponsor
• Rep. Johnson, Eddie Bernice [D-TX-30] · D · Cosponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Cosponsor
• Rep. Bachus, Spencer [R-AL-6] · R · Cosponsor
• Rep. Kilpatrick, Carolyn C. [D-MI-13] · D · Cosponsor
• Rep. Holt, Rush [D-NJ-12] · D · Cosponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Cosponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Cosponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Cosponsor
• Rep. Gohmert, Louie [R-TX-1] · R · Cosponsor
• Rep. Braley, Bruce L. [D-IA-1] · D · Cosponsor
• Rep. Doyle, Michael F. [D-PA-14] · D · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• Rep. Mollohan, Alan B. [D-WV-1] · D · Cosponsor
• Rep. Aderholt, Robert B. [R-AL-4] · R · Cosponsor
• Rep. Stupak, Bart [D-MI-1] · D · Cosponsor
• Rep. Saxton, Jim [R-NJ-3] · R · Cosponsor
• Rep. Lynch, Stephen F. [D-MA-8] · D · Cosponsor

Showing 48 of 81 sponsors and actors.

Related records

• related to → Fair Currency Act of 2007
• related to ← Fair Currency Act of 2007
• related to ← Currency Exchange Rate Oversight Reform Act of 2007