Currency Reform for Fair Trade Act 2010
Currency Reform for Fair Trade Act 2010 Enacted by U.S. Congress Date signed n/a Introduced by
Timothy Ryandatepassed = September 29, 2010 (House of Representatives), not passed (Senate)
The Currency Reform for Fair Trade Act 2010 was a bill by the Congress of the United States that sought punitive trade tariffs on countries that have perceived unfair competitive advantaged by such measures as currency manipulation.
The Act followed controversy as to China artificially keeping the yuan lower than its actual value (some say by at least 20%). Further to China there were other countries, most notably Japan, that took measures to weaken their currency.
The bill was introduced by Rep. Timothy Ryan [D-OH] on 13 May 2010. It was passed on to the House Ways and Means committee and the Senate Finance committee on 28 September 2010. The following day it was passed in the House of Representatives by a vote of 348 in favour, 79 opposed and 6 abstentations.
The House bill amended the Tariff Act of 1930 in that this version require the president's administration to: (1) determine, based on certain requirements, if the currency exchange rate of a country that exports goods or services to the US is "fundamentally and actionably undervalued or overvalued" against the American dollar for an 18-month period; and (2) should there be deemed a violation, the administration should to take action in the form of a "countervailing duty or antidumping duty" so as to offset such a misalignment. It also said the currency of a non-market economy would be subject to the provisions of the Act.
- ^ Currency wars are necessary if all else fails - Telegraph
- ^ H.R. 2378: Currency Reform for Fair Trade Act (GovTrack.us)
- ^ GovTrack: House Vote On Passage: H.R. 2378: Currency Reform for Fair Trade Act
- ^ H.R. 2378 - Summary: Currency Reform for Fair Trade Act (GovTrack.us)
- ^ GovTrack: H.Amdt. 781 to H.R. 2378 - 111th Congress
Wikimedia Foundation. 2010.
Look at other dictionaries:
Dodd–Frank Wall Street Reform and Consumer Protection Act — Full title An Act to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end too big to fail , to protect the American taxpayer by ending bailouts, to protect consumers… … Wikipedia
Currency War of 2009–2011 — The Currency War of 2009–2011 is an episode of Competitive devaluation which became prominent in September 2009. Competitive devaluation involves states competing with each other to achieve a relatively low valuation for their own currency, so as … Wikipedia
Commodity Futures Modernization Act of 2000 — The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that officially ensured the deregulation of financial products known as over the counter derivatives. It was signed into law on December 21, 2000 by… … Wikipedia
USA PATRIOT Act — Full title Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 Acronym USA PATRIOT Act, also Patriot Act Enacted by the 107th United States Congress … Wikipedia
Arguments for and against drug prohibition — Arguments about the prohibition of drugs, and over drug policy reform, are subjects of considerable controversy. The following is a presentation of major drug policy arguments, including those for drug law enforcement on one side of the debate,… … Wikipedia
October 2010 — was the tenth month of that year. It began on a Friday and concluded after 31 days on a Sunday. Portal:Current events This is an archived version of Wikipedia s Current events Portal from October 2010 … Wikipedia
Department for Business, Innovation and Skills — Logo of the Department for Business, Innovation and Skills Department overview Formed … Wikipedia
Oil-for-Food Programme — The Oil for Food Programme (OFF), established by the United Nations in 1995 (under UN Security Council Resolution 986) was established with the stated intent to allow Iraq to sell oil on the world market in exchange for food, medicine, and… … Wikipedia
December 2010 — was the twelfth month of that year. It began on a Wednesday and ended after 31 days on a Friday. Portal:Current events This is an archived version of Wikipedia s Current events Portal from December 2010 … Wikipedia
Federal Reserve System — FRB and FED redirect here. For other uses, see FRB (disambiguation) and FED (disambiguation). Federal Reserve System … Wikipedia