To amend title VII of the Tariff Act of 1930 to provide that exchange-rate misalignment by any foreign nation is a countervailable export subsidy, to amend the Exchange Rates and International Economic Policy Coordination Act of 1988 to clarify the definition of manipulation with respect to currency, and for other purposes.

Press Release from U.S. Senator Debbie Stabenow's office dated June 16, 2008:

 STABENOW, COLLEAGUES TO ADMINISTRATION: PUSH THE CHINESE GOVERNMENT TO STOP MANIPULATING ITS CURRENCY

On Eve of Latest Strategic Economic Dialogue with China, Bipartisan Group of Senators Urge Administration to Stand Up for American Businesses, Workers

WASHINGTON--U.S. Senators Debbie Stabenow (D-MI), Jim Bunning (R-KY), Evan Bayh (D-IN) and Chuck Schumer (D-NY) along with a bipartisan group of Senators, including Senator Barack Obama, today sent the following letter to Treasury Secretary Henry Paulson urging the administration to push the Chinese government to stop manipulating its currency and to allow greater appreciation of the renminbi (RMB).

The following list of US senators and congressmen have not yet formally cosponsored any version of the bipartisan China currency legislation we deem necessary.  In the House, that refers to H.R. 2942 (and its predecessors) introduced by Reps. Tim Ryan and Duncan Hunter.  In the Senate, that refers to S. 796 introduced by Sens. Jim Bunning, Debbie Stabenow, and Evan Bayh.