H.R.692 — China Exchange Rate Transparency Act of 2025
House Roll Call
H.R.692
| Bill | H.R.692 — China Exchange Rate Transparency Act of 2025 |
|---|---|
| Vote question | On Motion to Suspend the Rules and Pass, as Amended |
| Vote type | 2/3 Yea-And-Nay |
| Result | Passed |
| Totals | Yea 388 / Nay 7 / Present 0 / Not Voting 38 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 196 | 7 | 0 | 15 |
| D | 192 | 0 | 0 | 23 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Motion to Suspend the Rules and Pass, as Amended
Bill Analysis
Bill Summary: HR 692 - China Exchange Rate Transparency Act of 2025
The China Exchange Rate Transparency Act of 2025 aims to enhance the transparency and accountability of China’s currency exchange rate policies. The bill mandates the U.S. Department of the Treasury to conduct a comprehensive assessment of China’s exchange rate practices and their impact on U.S. trade and economic interests.
Key Provisions:
- The Treasury Secretary is required to report annually to Congress on China’s currency manipulation, including an evaluation of the Chinese yuan’s valuation against the U.S. dollar and other major currencies.
- The bill establishes criteria for determining whether China is manipulating its currency to gain an unfair trade advantage, including examining the trade balance, foreign exchange reserves, and the extent of intervention in currency markets.
- If the Treasury identifies currency manipulation, it is directed to engage with international partners to address these practices and may impose trade remedies to counteract the effects on U.S. industries.
Funding and Authorities: The bill does not allocate specific funding but requires the Treasury Department to utilize existing resources to fulfill the reporting and assessment obligations. It also empowers the Treasury to collaborate with the International Monetary Fund (IMF) and other international bodies to enhance global currency stability.
Affected Programs and Agencies: The primary agency impacted is the U.S. Department of the Treasury, which will oversee the implementation of the bill’s provisions. The bill also engages the Office of the U.S. Trade Representative and the Department of Commerce in addressing trade implications.
Beneficiaries and Regulation: U.S. manufacturers, exporters, and workers are the primary beneficiaries, as enhanced transparency may lead to fairer trade practices and reduced competitive disadvantages stemming from currency manipulation. The bill also aims to regulate China’s currency practices, promoting a more equitable trading environment.
Key Timelines: The bill was introduced in the House and has been received in the Senate, where it has been read twice and referred to the Committee on Foreign Relations for further consideration. The timeline for subsequent actions remains to be determined.
Yea (388)
K
Ken Calvert
G
Gerald Connolly
J
Jason Crow
L
Lloyd Doggett
S
Scott Franklin
J
John Garamendi
M
Mark Green
J
John Mannion
L
Lucy McBath
L
Lisa McClain
J
John Rutherford
D
David Schweikert
P
Pete Sessions
R
Rashida Tlaib
S
Sylvester Turner
N
Nydia Velázquez
D
Debbie Wasserman Schultz
Not Voting (38)
R
Raúl Grijalva
E
Eric Swalwell
