H.R. 4986: Currency Rate Adjustment and Trade Enforcement Act

108th Congress · introduced 2004-07-22 · Foreign Trade and International Finance · Latest: Referred to the Subcommittee on Trade.

federal

Follow this bill, step by step

Where it came from: introduced 2004-07-22 · official record
Who proposed it: Rep. Rogers, Mike J. [R-MI-8] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Trade. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Currency Rate Adjustment and Trade Enforcement Act

Plain summary

Currency Rate Adjustment and Trade Enforcement Act - Requires the Secretary of the Treasury to analyze the exchange rate policies of the People's Republic of China (PRC) to determine whether the PRC maintains the rate of exchange between its currency and the U.S. dollar in a manner that interferes with effective balance of payments adjustments or confers a competitive advantage in international trade that would not exist if the currency value were set by market forces. Directs the Secretary, if such determination is affirmative, to compute the rate of undervaluation against the dollar in the form of a percentage. Requires the Secretary to determine the PRC global balance of trade by comparing China's import and export data by country, as reported by the Chinese Government, with its export and import data, as reported by the government of each country that is a trading partner of China, taking into account reexports to and from China through Hong Kong. Requires the President, in any case in which a report of the Secretary to specified congressional committees includes a rate of undervalution, to seek authorization in the World Trade Organization (WTO) through dispute settlement to: (1) offset the subsidy inherent in the undervalued currency by the application of across-the-board equivalent tariffs, on the basis of the rate of such undervaluation, on the importation into the United States of all PRC products; and (2) take measures to offset the disadvantage resulting from such undervaluation to exports to the PRC of U.S. goods and services. Requires annual modifications of such measure, consistent with U.S. and WTO obligations, to the extent necessary to comply with the Secretary's most recent report. Authorizes the Secretary to modify any imposed measures or modifications 30 days after notifying Congress of a substantial change in the PRC's degree of currency undervaluation.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Currency Rate Adjustment and Trade Enforcement Act

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Rogers, Mike J. [R-MI-8] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108hr4986.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/hr>

Record fed-us-cong108-hr4986 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108