Neutralizing Unfair Chinese Export Subsidies Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4522 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 4522

  To provide for working with allies to seek increased compliance by 
            China with certain OECD export credit standards.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 17, 2025

 Mr. Nunn of Iowa introduced the following bill; which was referred to 
                  the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To provide for working with allies to seek increased compliance by 
            China with certain OECD export credit standards.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Neutralizing Unfair Chinese Export 
Subsidies Act of 2025''.

SEC. 2. WORKING WITH ALLIES TO ENSURE CHINA'S COMPLIANCE WITH OECD 
              STANDARDS.

    (a) In General.--Within 180 days after the date of the enactment of 
this Act, the Secretary of the Treasury shall submit to the Committee 
on Financial Services of the House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs of the Senate a detailed 
strategy and timeline with respect to--
            (1) strengthening United States advocacy and cooperation 
        with appropriate allies and partners to seek to ensure 
        substantial compliance by China with the financial terms and 
        conditions of the OECD Arrangement on Officially Supported 
        Export Credits; and
            (2) the goal described in section 11(a)(1) of the Export-
        Import Bank Reauthorization Act of 2012.
    (b) International Negotiations on Export Subsidies.--
            (1) In general.--Section 11(a)(1) of the Export-Import Bank 
        Reauthorization Act of 2012 (12 U.S.C. 635a-5(a)(1)) is amended 
        by striking ``with the possible goal of eliminating, before the 
        date that is 10 years after the date of the enactment of the 
        Export-Import Bank Reform and Reauthorization Act of 2015,'' 
        and inserting ``with the goal of eliminating, before the date 
        that is 10 years after the date of the enactment of the 
        Neutralizing Unfair Chinese Export Subsidies Act of 2025''.
            (2) Progress report.--Section 11(e) of such Act (12 U.S.C. 
        635a-5(e)) is amended by striking ``2019'' and inserting 
        ``2029''.
            (3) Conduct of negotiations.--Section 11 of such Act (12 
        U.S.C. 635a-5) is amended--
                    (A) in each of subsections (a) and (d), by striking 
                ``The President'' and inserting ``The Secretary of the 
                Treasury, in consultation with the United States Trade 
                Representative,'';
                    (B) in subsection (a), by inserting ``, and 
                endeavor to hold not less frequently than twice per 
                year,'' before ``negotiations'';
                    (C) in each of subsections (b), (c), and (e), by 
                striking ``President'' each place it appears and 
                inserting ``Secretary of the Treasury''; and
                    (D) in subsection (d), by inserting ``, and 
                endeavor to hold such negotiations not less frequently 
                than twice per year'' before the period.

SEC. 3. EXCHANGE RATE GOVERNANCE AND INTERNATIONAL MONETARY FUND.

    (a) In General.--In applying criteria to determine whether the 
People's Republic of China has manipulated the rate of exchange between 
its currency and the United States dollar, the Secretary of the 
Treasury--
            (1) shall take into account--
                    (A) compliance by the People's Republic of China 
                with its obligations under Article VIII of the Articles 
                of Agreement of the International Monetary Fund;
                    (B) the transparency of exchange rate management by 
                the People's Republic of China; and
                    (C) significant support by the government of the 
                People's Republic of China to particular economic 
                sectors that prevents effective balance of payments 
                adjustments; and
            (2) may carry out the determination regardless of any 
        global current account surplus of the People's Republic of 
        China.
    (b) Opposition to IMF Quota Increase.--During the one-year period 
following a determination by the Secretary of the Treasury that the 
People's Republic of China has manipulated the rate of exchange between 
its currency and the United States dollar, the Secretary shall instruct 
the United States Governor of the International Monetary Fund to use 
the voice and vote of the United States to oppose any proposal to 
increase the quota of the People's Republic of China in the Fund, other 
than consent to an amendment to the Articles of Agreement of the Fund 
that has been authorized by law.
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