119-hr4522

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4522 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 4522

 To provide for working with allies to seek increased compliance by 
 China with certain OECD export credit standards.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 July 17, 2025

 Mr. Nunn of Iowa introduced the following bill; which was referred to 
 the Committee on Financial Services

_______________________________________________________________________

 A BILL

 To provide for working with allies to seek increased compliance by 
 China with certain OECD export credit standards.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Neutralizing Unfair Chinese Export 
Subsidies Act of 2025''.

SEC. 2. WORKING WITH ALLIES TO ENSURE CHINA'S COMPLIANCE WITH OECD 
 STANDARDS.

    (a) In General.--Within 180 days after the date of the enactment of 
this Act, the Secretary of the Treasury shall submit to the Committee 
on Financial Services of the House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs of the Senate a detailed 
strategy and timeline with respect to--

    (1) strengthening United States advocacy and cooperation 
 with appropriate allies and partners to seek to ensure 
 substantial compliance by China with the financial terms and 
 conditions of the OECD Arrangement on Officially Supported 
 Export Credits; and

    (2) the goal described in 

section 11

    (a)

    (1) of the Export-
 Import Bank Reauthorization Act of 2012.

    (b) International Negotiations on Export Subsidies.--

    (1) In general.--

Section 11

    (a)

    (1) of the Export-Import Bank 
 Reauthorization Act of 2012 (12 U.S.C. 635a-5

    (a)

    (1) ) is amended 
 by striking ``with the possible goal of eliminating, before the 
 date that is 10 years after the date of the enactment of the 
 Export-Import Bank Reform and Reauthorization Act of 2015,'' 
 and inserting ``with the goal of eliminating, before the date 
 that is 10 years after the date of the enactment of the 
 Neutralizing Unfair Chinese Export Subsidies Act of 2025''.

    (2) Progress report.--

Section 11

    (e) of such Act (12 U.S.C. 
 635a-5

    (e) ) is amended by striking ``2019'' and inserting 
 ``2029''.

    (3) Conduct of negotiations.--

Section 11 of such Act (12 
 U.S.C. 635a-5) is amended--
        (A) in each of subsections

    (a) and
            (d) , by striking 
 ``The President'' and inserting ``The Secretary of the 
 Treasury, in consultation with the United States Trade 
 Representative,'';
        (B) in subsection

    (a) , by inserting ``, and 
 endeavor to hold not less frequently than twice per 
 year,'' before ``negotiations'';
            (C) in each of subsections

    (b) ,
            (c) , and

    (e) , by 
 striking ``President'' each place it appears and 
 inserting ``Secretary of the Treasury''; and
            (D) in subsection
            (d) , by inserting ``, and 
 endeavor to hold such negotiations not less frequently 
 than twice per year'' before the period.

SEC. 3. EXCHANGE RATE GOVERNANCE AND INTERNATIONAL MONETARY FUND.

    (a) In General.--In applying criteria to determine whether the 
People's Republic of China has manipulated the rate of exchange between 
its currency and the United States dollar, the Secretary of the 
Treasury--

    (1) shall take into account--
        (A) compliance by the People's Republic of China 
 with its obligations under Article VIII of the Articles 
 of Agreement of the International Monetary Fund;
        (B) the transparency of exchange rate management by 
 the People's Republic of China; and
            (C) significant support by the government of the 
 People's Republic of China to particular economic 
 sectors that prevents effective balance of payments 
 adjustments; and

    (2) may carry out the determination regardless of any 
 global current account surplus of the People's Republic of 
 China.

    (b) Opposition to IMF Quota Increase.--During the one-year period 
following a determination by the Secretary of the Treasury that the 
People's Republic of China has manipulated the rate of exchange between 
its currency and the United States dollar, the Secretary shall instruct 
the United States Governor of the International Monetary Fund to use 
the voice and vote of the United States to oppose any proposal to 
increase the quota of the People's Republic of China in the Fund, other 
than consent to an amendment to the Articles of Agreement of the Fund 
that has been authorized by law.
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