U.S. Rep. Dan Meuser, R-Dallas, has reintroduced legislation aimed at addressing what a news release from the congressman’s office describes as “China’s opaque and manipulative currency practices that undermine fair trade and global economic stability.”
“China’s long-standing disregard for financial transparency and its manipulation of foreign exchange markets have tilted the playing field against U.S. businesses and disrupted global economic norms,” said Meuser, according to the news release. “This legislation demands accountability and insists on adherence to international standards of transparency and fairness.”
The bill directs the U.S. executive director at the International Monetary Fund to advocate for enhanced transparency in China’s exchange rate arrangements. The legislation also calls for stricter IMF oversight of China’s compliance with its commitments under the IMF’s articles of agreement, including orderly exchange rate arrangements and the avoidance of manipulation.
“President Trump was elected to negotiate fair trade deals and put America First again,” Meuser said, according to the news release. “This legislation is a continuation of that mission–holding China accountable for its long-standing manipulative practices in foreign exchange markets. By ensuring transparency and adherence to international norms, we are protecting American workers, businesses, and farmers from unfair competition. When China manipulates their currency, global prices suffer. This is about restoring integrity and fairness to global trade, reinforcing the principles of free and fair commerce, and standing strong for U.S. economic interests on the world stage.”
