I 
119TH CONGRESS 
1ST SESSION H. R. 4522 
To provide for working with allies to seek increased compliance by China 
with certain OECD export credit standards. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 17, 2025 
Mr. NUNN of Iowa introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To provide for working with allies to seek increased compli-
ance by China with certain OECD export credit stand-
ards. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Neutralizing Unfair 
Chinese Export Subsidies Act of 2025’’. 
SEC. 2. WORKING WITH ALLIES TO ENSURE CHINA’S COM-
PLIANCE WITH OECD STANDARDS. 
(a) IN GENERAL.—Within 180 days after the date 
of the enactment of this Act, the Secretary of the Treasury 
shall submit to the Committee on Financial Services of 
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the House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate a de-
tailed strategy and timeline with respect to— 
(1) strengthening United States advocacy and 
cooperation with appropriate allies and partners to 
seek to ensure substantial compliance by China with 
the financial terms and conditions of the OECD Ar-
rangement on Officially Supported Export Credits; 
and 
(2) the goal described in section 11(a)(1) of the 
Export-Import Bank Reauthorization Act of 2012. 
(b) INTERNATIONAL
NEGOTIATIONS
ON
EXPORT 
SUBSIDIES.— 
(1) IN GENERAL.—Section 11(a)(1) of the Ex-
port-Import Bank Reauthorization Act of 2012 (12 
U.S.C. 635a–5(a)(1)) is amended by striking ‘‘with 
the possible goal of eliminating, before the date that 
is 10 years after the date of the enactment of the 
Export-Import Bank Reform and Reauthorization 
Act of 2015,’’ and inserting ‘‘with the goal of elimi-
nating, before the date that is 10 years after the 
date of the enactment of the Neutralizing Unfair 
Chinese Export Subsidies Act of 2025’’. 
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(2) PROGRESS REPORT.—Section 11(e) of such 
Act (12 U.S.C. 635a–5(e)) is amended by striking 
‘‘2019’’ and inserting ‘‘2029’’. 
(3) CONDUCT OF NEGOTIATIONS.—Section 11 
of such Act (12 U.S.C. 635a–5) is amended— 
(A) in each of subsections (a) and (d), by 
striking ‘‘The President’’ and inserting ‘‘The 
Secretary of the Treasury, in consultation with 
the United States Trade Representative,’’; 
(B) in subsection (a), by inserting ‘‘, and 
endeavor to hold not less frequently than twice 
per year,’’ before ‘‘negotiations’’; 
(C) in each of subsections (b), (c), and (e), 
by striking ‘‘President’’ each place it appears 
and inserting ‘‘Secretary of the Treasury’’; and 
(D) in subsection (d), by inserting ‘‘, and 
endeavor to hold such negotiations not less fre-
quently than twice per year’’ before the period. 
SEC. 
3. 
EXCHANGE 
RATE 
GOVERNANCE 
AND 
INTER-
NATIONAL MONETARY FUND. 
(a) IN GENERAL.—In applying criteria to determine 
whether the People’s Republic of China has manipulated 
the rate of exchange between its currency and the United 
States dollar, the Secretary of the Treasury— 
(1) shall take into account— 
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(A) compliance by the People’s Republic of 
China with its obligations under Article VIII of 
the Articles of Agreement of the International 
Monetary Fund; 
(B) the transparency of exchange rate 
management by the People’s Republic of China; 
and 
(C) significant support by the government 
of the People’s Republic of China to particular 
economic sectors that prevents effective balance 
of payments adjustments; and 
(2) may carry out the determination regardless 
of any global current account surplus of the People’s 
Republic of China. 
(b) OPPOSITION TO IMF QUOTA INCREASE.—During 
the one-year period following a determination by the Sec-
retary of the Treasury that the People’s Republic of China 
has manipulated the rate of exchange between its currency 
and the United States dollar, the Secretary shall instruct 
the United States Governor of the International Monetary 
Fund to use the voice and vote of the United States to 
oppose any proposal to increase the quota of the People’s 
Republic of China in the Fund, other than consent to an 
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amendment to the Articles of Agreement of the Fund that 
has been authorized by law. 
Æ 
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