Currency Harmonization Initiative through Neutralization Action Act of 2003

This bill would require the U.S. Department of the Treasury to conduct an annual review of China’s currency exchange policies to determine if they are being artificially manipulated. If the Treasury finds that China is keeping its currency value unfairly low to gain a trade advantage, the bill authorizes the U.S. government to impose additional tariffs on Chinese imports. For everyday citizens, this could lead to higher prices for goods imported from China, but it is intended to protect domestic manufacturers and workers by making American-made products more competitive.