To require the United States Governor of, and the United States Executive Director at, the International Monetary Fund to oppose an increase in the weight of the Chinese renminbi in the Special Drawing Rights basket of the Fund, and for other purposes.
Legislative Progress
Passed HouseReceived; read twice and referred to the Committee on Foreign …
Passed House (inferred from eh version)
Mr. Davidson introduced the following bill; which was referred to …
Summary
What This Bill Does
Directs the US Treasury to oppose any increase in the Chinese renminbi weight in the IMF SDR basket unless Treasury certifies China meets currency manipulation and transparency requirements.
Who Benefits and How
US trade interests benefit from pressure on China regarding currency practices. Currency manipulation enforcement gains leverage. Global financial transparency advocates benefit.
Who Bears the Burden and How
China faces conditions for increased SDR participation. Treasury must monitor and certify Chinese compliance. US-China financial relations may be strained.
Key Provisions
- US must oppose renminbi weight increase in SDR basket
- Exception requires Treasury certification that China:
- Complies with IMF Article VIII obligations
- Has not been found to manipulate currency in past 12 months
- Adheres to Paris Club and OECD export credit rules
- 10-year sunset provision
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Requires US opposition to increasing Chinese yuan weight in IMF Special Drawing Rights basket
Policy Domains
Legislative Strategy
"Use IMF leverage to pressure China on currency practices"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology