Road to The Floor
How it worksIntroduced
In Committee
On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis bill requires the United States to oppose increasing the weight of Chinese currency in the basket of currencies used to determine the value of Special Drawing Rights, which are international reserve assets created by the International Monetary Fund. The U.S. must oppose any such increase unless the Treasury Department certifies that China meets certain conditions. These conditions include China complying with all International Monetary Fund obligations, not manipulating its currency in the past 12 months, and following the rules of the Paris Club and a specific export credit arrangement.
Introduced
January 14, 2025
Policy Area
Foreign Trade and International Finance
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