Japan Currency Manipulation Act

Summary

Japan Currency Manipulation Act - Directs the Secretary of the Treasury to report to Congress on: (1) currency intervention by Japan with respect to the rate of exchange of the Japanese yen and the U.S. dollar and other currencies since 2000; and (2) any effort by Japan to create an exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies since March 2004. Requires the Secretary to submit to Congress a proposal for a comprehensive joint U.S.-European Union plan to address the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies. Directs the Secretary to: (1) initiate consultations with Japan to decrease Japan's foreign currency reserve holdings to permit effective balance of payments adjustments and to eliminate its unfair competitive advantage in international trade; and (2) take appropriate action to dissuade, prevent, or object to currency intervention by Japan. Directs the United States to call for the convening of a special meeting of the International Monetary Fund (IMF) to reach a multilateral agreement regarding: (1) the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies; (2) the destabilizing effects of the exchange-rate misalignment of the Japanese yen; and (3) Japan's excessive foreign currency reserve holdings. Directs the Secretary to report to Congress on: (1) progress made toward decreasing Japan's foreign currency reserve holdings; and (2) actions taken at meetings of the G-7 Leaders, G-7 Finance Ministers, and the IMF regarding the exchange-rate misalignment of the Japanese yen with respect to the U.S. dollar and other currencies, including any progress toward eliminating such misalignment.

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Timeline

1. 28 March 2007

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 March 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 March 2007 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 March 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 March 2007

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 28 March 2007

  Open at official source

Sponsors

• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Japan Currency Manipulation Act