U.S. Rep. Dan Meuser (R-PA) legislation aimed at addressing China’s “opaque and manipulative currency practices.”
The China Exchange Rate Transparency Act (H.R. 692) directs the United States executive director at the International Monetary Fund (IMF) to advocate for enhanced transparency in China’s exchange rate arrangements.
“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,” Meuser said. “This legislation demands accountability and insists on adherence to international standards of transparency and fairness.”
In addition, the legislation calls for stricter IMF oversight of China’s compliance with its commitments under the IMF’s Articles of Agreement. This includes 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. “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.”
Reps. Barry Loudermilk (R-GA), Monica De La Cruz (R-TX), Susie Lee (R-NV), John Moolenaar (R-MI), and Mark Messmer (R-IN) cosponsored the bill.