Trade Equity and Growth Act of 1985

Summary

Trade Equity and Growth Act of 1985 - Declares that achievement of an orderly movement to lower and stable exchange rates for the dollar is a primary objective of U.S. economic policy. Directs the President to convene an international conference on the international monetary system to review the present system of floating exchange rates and to develop a consensus on reform of that system to provide for the long term exchange rate stability necessary for a strengthened world trade and financial system. Sets forth proposed reforms for study at such conference. Requires the President to report annually to the Congress on the progress made toward: (1) reducing the value of the dollar and stabilizing it on international markets through short term actions; and (2) adopting long-term reform of the system that will prevent future instability in international exchange rates. Prohibits the President from: (1) commencing multilateral negotiations under the General Agreement on Tariffs and Trade on reducing or eliminating tariffs and non-tariff barriers to trade until the conference is convened; or (2) concluding any trade agreement resulting from such nogotiations until the Congress receives its first annual report on progress in reforming the international monetary system. Directs the Secretary of the Treasury to: (1) report to the Congress, within 30 days of enactment of this Act, on the range of dollar exchange values that must be obtained if equilibrium in the current account deficits of the United States is to be restored by 1990; and (2) develop and implement mechanisms to achieve such equilibrium. Requires the Secretary to report on a quarterly basis to the Congress on developing and implementing such mechanisms.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 16 October 1985

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.