Fair Currency Exchange Rate and Trade Act of 1987

Summary

Fair Currency Exchange Rate and Trade Act of 1987 - Directs the Secretary of the Treasury to report annually to the Congress on the currency exchange rate policies and the trade policies of each of the 20 foreign countries which have the largest bilateral surpluses in their trade balances with the United States. Sets forth information to be included in such reports. Requires the Secretary of Commerce to collect the information necessary to enable the Secretary of the Treasury to prepare such reports. Requires the Secretary of the Treasury to monitor the currency exchange rate for each of such 20 countries to determine whether such currency is substantially undervalued in relation to U.S. dollar. Requires the Secretary of the Treasury to notify the Congress if a country's currency is classified as substantially undervalued in relation to the U.S. dollar. Requires the Secretary of the Treasury, if a country is the subject of such notification to the Congress and the country has a material surplus in its trade balance with the rest of the world, to initiate negotiations with such foreign country on currency exchange rate policies. Provides that if such negotiations, within six months of their initiation, fail to reform the exchange rate policies or fail to cause a currency revaluation to more accurately reflect underlying economic conditions: (1) the Secretary of the Treasury shall notify the Congress of such failure; and (2) the U.S. Trade Representative (USTR) shall initiate negotiations with such foreign country in order to obtain trade concessions from such country to mitigate the adverse trade effects of the undervalued currency. Requires the USTR to report to the Congress semi-annually on such negotiations.

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Timeline

1. 4 February 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 4 February 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 4 February 1987

  Open at official source

Sponsors

• Rep. Baucus, Max [D-MT-1] · D · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• Sen. Sanford, Terry [D-NC] · D · Sponsor
• · ssfi00 · Standing

Related records

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