ADVISORY: Rep. Meuser Bill to Curb Chinese Currency Manipulation Passes House

WASHINGTON, D.C. —Washington, D.C. - In a notable stride toward global economic fairness, the United States House of Representatives has passed H.R. 839, the China Exchange Rate Transparency (CERT) Act of 2023. This important legislation, introduced by Congressman Dan Meuser (PA-09), targets China's secretive and often unfair currency practices. The legislation passed the House 379-1 with overwhelming bipartisan support.

The CERT Act calls for greater transparency in China's exchange rate policies, a move seen as crucial to addressing China's currency manipulation. Such practices have long affected the competitiveness of American products and the broader global economy, benefitting Chinese exports at the expense of economic fairness.

Rep. Meuser said, "My bill takes on the Chinese Communist Party’s unfair tactics in the world of currency trading. They're purposely lowering the value of their money to make their products cheaper than American ones. This isn't just about being fair; it's about making sure the world economy plays by the rules. The CERT Act makes sure every country, including China, follows the promises they made. The bill stands up to China's consistent bending of international rules by making their often-manipulative exchange rates more transparent at the IMF.”

This bipartisan effort is a significant move to level the playing field for American businesses and workers. By confronting currency manipulation, the Act is expected to boost the competitiveness of U.S. exports, benefiting the American economy. The passage of the CERT Act signals the United States' strong commitment to fair trade and a transparent global economic system.

This bill represents more than just legislation. It's a clear statement of the U.S.'s determination to maintain fair trade and protect its economic interests amidst global complexities. It underscores the commitment of U.S. leaders to defend American businesses and workers from unfair economic practices.

Congressman Meuser spoke in support of his legislation on the House Floor this week. That video can be found here.

Text of the legislation can be found here.

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