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Bill

HR 692

China Exchange Rate Transparency Act of 2025

119th Congress Introduced by Stephanie Bice and 9 co-sponsors

The China Exchange Rate Transparency Act of 2025 mandates U.S. Treasury reports on China's currency practices to combat manipulation and protect fair trade for U.S. businesses.

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
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WeVote Research Nonpartisan
Bill Summary · HR 692

Summary of HR 692 - China Exchange Rate Transparency Act of 2025

Overview

The China Exchange Rate Transparency Act of 2025 (HR 692) is a legislative proposal aimed at enhancing transparency regarding China's currency exchange rate practices. Introduced on January 23, 2025, the bill seeks to address concerns over currency manipulation and its impact on international trade.

Purpose and Intent

The primary intent of HR 692 is to ensure that the U.S. government has access to accurate and timely information about China's exchange rate policies. By increasing transparency, the bill aims to promote fair trade practices and protect U.S. economic interests against potential manipulation of the yuan (CNY).

Key Provisions

  • Reporting Requirements: The bill mandates that the U.S. Department of the Treasury must report to Congress on China's exchange rate practices, including any interventions in the foreign exchange market.
  • Assessment of Currency Manipulation: The Treasury is required to assess whether China is manipulating its currency to gain an unfair trade advantage.
  • Engagement with International Partners: The bill encourages collaboration with international allies to address currency manipulation and promote fair exchange rate practices globally.
  • Consequences for Non-Compliance: If China is found to be manipulating its currency, the bill outlines potential measures that could be taken, including tariffs or other trade restrictions.

Affected Parties

  • U.S. Government: The bill will require increased reporting and analysis from the Treasury Department.
  • U.S. Businesses: Companies engaged in trade with China may benefit from more stable and predictable exchange rates.
  • Chinese Government: The bill places additional scrutiny on China's currency practices, potentially impacting its economic policies.

Legislative Process and Timeline

  • House Passage: The bill was passed in the House on February 10, 2025, with a significant majority vote of 388 to 7. This vote was conducted under a suspension of the rules, indicating broad bipartisan support.
  • Senate Consideration: Following its passage in the House, HR 692 was received in the Senate on February 11, 2025, where it was read twice and referred to the Committee on Foreign Relations for further consideration.

Related Legislation

  • S 2146: A companion bill in the Senate that addresses similar issues regarding currency transparency and manipulation.

Conclusion

The China Exchange Rate Transparency Act of 2025 represents a proactive approach by the U.S. Congress to tackle concerns over currency manipulation by China. By enhancing transparency and accountability, the bill aims to foster fair trade practices and protect U.S. economic interests in the global market. The ongoing legislative process will determine the final form and impact of this important piece of legislation.

Compiled from official sources — confirm details with the bill’s official record.

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