Berks County News

Legislation proposed by Congressman Dan Meuser, known as the China Exchange Rate Transparency (CERT) Act, has been passed by the House of Representatives with a vote of 388-7. The bill seeks to address issues related to China's currency practices which are perceived as opaque and manipulative, affecting fair trade and global economic stability.

Meuser stated, “China’s long-standing disregard for financial transparency and its manipulation of foreign exchange markets have tilted the playing field against U.S. businesses and disrupted global economic norms.” He emphasized that the legislation is aimed at demanding accountability from China and ensuring adherence to international standards of transparency.

The CERT Act instructs the United States Executive Director at the International Monetary Fund (IMF) to push for greater transparency in China's exchange rate policies. It also calls for increased oversight by the IMF on China's compliance with its commitments under the IMF's Articles of Agreement.

“President Trump was elected to negotiate fair trade deals and put America First again,” Meuser highlighted. “This legislation is a continuation of that mission—holding China accountable for its long-standing manipulative practices in foreign exchange markets."

The act has garnered support from various cosponsors including Reps. Barry Loudermilk, Monica De La Cruz, Susie Lee, John Moolenaar, Mark Messmer, Mike Lawler, Ben Cline, Tom Suozzi, and G.T. Thompson.

Meuser urged swift action from the Senate to pass this bill so it can be sent to President Trump's desk for signing into law.