H.R.5627 - Steel Financing Fairness Act

To prohibit the Overseas Private Investment Corporation from providing insurance or financing to countries that subsidize their steel industries and for projects producing goods subject to antidumping duties, to require the United States to oppose the provision by the International Monetary Fund of assistance to countries which subsidize their steel industries, and to ban assistance by the Export-Import Bank of the United States to countries that subsidize their steel industries. view all titles (2)

All Bill Titles

  • Short: Steel Financing Fairness Act as introduced.
  • Official: To prohibit the Overseas Private Investment Corporation from providing insurance or financing to countries that subsidize their steel industries and for projects producing goods subject to antidumping duties, to require the United States to oppose the provision by the International Monetary Fund of assistance to countries which subsidize their steel industries, and to ban assistance by the Export-Import Bank of the United States to countries that subsidize their steel industries. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/15/06
 
 
 
 
 
 
 

Official Summary

Steel Financing Fairness Act - Prohibits the Overseas Private Investment Corporation (OPIC) from providing insurance or financing for a project: (1) in any country that grants a subsidy to its steel industry until three months after such subsidy is eliminated; or (2) that produces, outside

Official Summary

Steel Financing Fairness Act - Prohibits the Overseas Private Investment Corporation (OPIC) from providing insurance or financing for a project:
(1) in any country that grants a subsidy to its steel industry until three months after such subsidy is eliminated; or
(2) that produces, outside of the United States, any product subject to antidumping duties. Amends the Bretton Woods Agreements Act to require the Secretary of the Treasury to:
(1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to oppose any assistance from the IMF to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated; and
(2) reduce the U.S. contribution to the IMF if it provides assistance to any such government during such period. Amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, or extending credit for exports to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated.

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