Congress·Passed House·H.R. 692

Trade Fairness: Monitoring China's Currency Practices

China Exchange Rate Transparency Act of 2025

about 1 year ago·View on Congress.gov

⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

✓ House

Senate

President

Law

Key Points

Congress wants the U.S. representative at the International Monetary Fund (IMF) to demand more information from China about how it controls the value of its money. Currently, China is seen as an outlier because it does not share as much data about its currency as other major global economies.
The goal is to prevent China from secretly influencing its currency value through state-owned banks or companies. When a country keeps its currency value artificially low, its products become cheaper to sell abroad, which can make it harder for American businesses and workers to compete fairly.
This policy would also link China's voting power and influence at the IMF to how well they follow international rules. If China does not share its data openly, the U.S. will argue that China should not be given more leadership or voting shares in the global financial system.
These requirements will stay in place for seven years unless the U.S. government determines that China has started following international standards and sharing its currency data as openly as other large nations.

Milestones

3 milestones11 actions

Feb 11, 2025Senate

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Feb 10, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Feb 10, 2025House

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 388 - 7 (Roll no. 36). (text: CR H597)

Feb 10, 2025

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 388 - 7 (Roll no. 36). (text: CR H597)

Feb 10, 2025House

Considered as unfinished business. (consideration: CR H605)