Currency Harmonization Initiative through Neutralizing Action Act of 2005

The Currency Harmonization Initiative through Neutralizing Action Act of 2005 would require the U.S. Treasury Department to conduct an annual review of China’s exchange rate policies to determine if the country is manipulating its currency. If the Secretary of the Treasury finds that such manipulation is occurring, the bill mandates the imposition of additional tariffs on Chinese imports to offset any unfair trade advantages. For everyday citizens, this legislation could lead to higher prices for goods imported from China, while potentially making American-made products more competitive by balancing international trade costs.