•    CRFTA would allow injured American industries to seek either countervailing (CVD) or antidumping duties in a manner consistent with U.S. obligations under the WTO.  H.R. 1498, H.R. 782, and S. 796 authorized the use of the CVD law only.  S. 1607 authorized use of the antidumping law only, subject to multiple conditions and restrictions.  Only H.R. 2942 also authorized the use of either remedy.
•    CRFTA defines the actionable offense as “fundamental and actionable misalignment.”  Consistent with IMF policy guidelines, this standard does not require any finding with regard to the intent of the foreign government as arguably might have been required under H.R. 1498 and S. 1607.
•    CRFTA’s standard differs from all previous legislation in addressing both undervalued and overvalued currency misalignment and prescribes adjustments to countervailing and antidumping duty calculations accordingly.
•    CRFTA specifies the factors to be considered and reliance on publicly available data in determining whether a currency is misaligned over an 18-month period and, unlike most previous bills, requires the use of IMF methodologies and guidelines for computing the magnitude of misalignment.
•    Unlike H.R. 782, H.R. 2942 and S. 796, CRFTA does not expressly provide for application of the CVD law to imports from non-market-economy countries.  The Department of Commerce changed its policy with regard to this issue in 2007 and has completed more than ___ CVD investigations involving allegedly subsidized goods from non-market-economy countries.
•    Unlike H.R. 2942, S. 1607 and S. 1677, CRFTA does not seek to change the provisions of the Omnibus Trade and Competitiveness Act of 1988, under which the Treasury is required to make periodic determinations with regard to foreign governments’ exchange rate practices and report to the Congress.  These matters are beyond the purview of a trade law remedy bill.