H.R.2378 - Currency Reform for Fair Trade Act

To amend title VII of the Tariff Act of 1930 to clarify that fundamental exchange-rate misalignment by any foreign nation is actionable under United States countervailing and antidumping duty laws, and for other purposes. view all titles (5)

All Bill Titles

  • Short: Currency Reform for Fair Trade Act as introduced.
  • Official: To amend title VII of the Tariff Act of 1930 to clarify that fundamental exchange-rate misalignment by any foreign nation is actionable under United States countervailing and antidumping duty laws, and for other purposes. as introduced.
  • Official: To amend title VII of the Tariff Act of 1930 to clarify that countervailing duties may be imposed to address subsidies relating to a fundamentally undervalued currency of any foreign country. as amended by house.
  • Short: Currency Reform for Fair Trade Act as reported to house.
  • Short: Currency Reform for Fair Trade Act as passed house.

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nyconcepts 09/29/2010 6:27pm

Why are we blaming another countries soveriegn right to flucuate their currencey as they see fit.What we need to do is effect regulation to reduce business costs, overhead, taxes and union benefits to make our country more competitve in the global market. Only 1% of U.S. companies export goods and services. Why not expend our efforts to support and educate businesses on selling beyond our borders. Quit creating protectionist measures that will have the effect of a trade war with the hastest growing economy in the world!

The bill “would create a very damaging thing to the world economy and the stability of Asia,” Nobel-Prize winning economist Robert Mundell told Bloomberg Television. “This would have a wounding effect on the stability of international relations. There’s never been any precedent in economic history where a country through any legal system was forced to appreciate its currency relative to another country.”
http://moneymorning.com/2010/09/29/house-currency-bill/

jnuznoff 09/28/2009 4:06am
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This well meaning legislation will no doubt have ‘unintended consequences’ such as retaliation by those countries affected by the tariffs imposed. The net result is lower economic activity and higher consumer prices. Let’s aim for a more productive American economy via lower corporate taxes and less government interference!


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