H.R. 386 · Passed House · Foreign Trade and International Finance

Chinese Currency Accountability Act of 2025

Sponsor: Warren Davidson (R-OH)

What it does

• Requires the Treasury Department to instruct U.S. IMF officials to oppose any increase in the weight of Chinese currency in the basket of currencies that determines the value of Special Drawing Rights unless Treasury cer
• Establishes conditions for Treasury certification: China must comply with general IMF obligations, must not have been found to have manipulated its currency in the preceding 12 months, and must adhere to Paris Club and O
• Directs U.S. opposition to any SDR weighting increase for China absent Treasury compliance certification.

Official summary

Chinese Currency Accountability Act of 2025 This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are international reserve assets created by the International Monetary Fund (IMF) to supplement member countries' official foreign exchange reserves. Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that China is in compliance with certain standards and international agreements, including that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China adheres to the rules and principles of the Paris Club and the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits.

Latest action

Feb 11, 2025: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Committee: Senate Foreign Relations