Currency Manipulation Prevention Act

The Currency Manipulation Prevention Act (H.R. 3157) seeks to address foreign government interventions in currency markets that make international goods cheaper to export and U.S. goods more expensive to import. The bill would require the Department of Commerce to issue twice-yearly reports identifying countries that manipulate their currency and analyzing how these actions impact American manufacturing and monetary policy. Under this legislation, the President would be required to negotiate with identified countries to end these practices and, if deemed in the national interest, seek financial compensation for damages caused to U.S. manufacturers.