Neutralizing Unfair Chinese Export Subsidies Act of 2021

Bill: 117-hr-5790
Sponsor: full_name: Rep. Zeldin, Lee M. [R-NY-1]
Introduced: 2021-10-28
Policy area: Foreign Trade and International Finance
Subjects: China

Competitiveness, trade promotion, trade deficits

Congressional oversight

Government lending and loan guarantees

Trade agreements and negotiations

Trade restrictions
Latest action: action_date: 2021-10-28
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2021-10-28
action_desc: Introduced in House
text: <p><b>Neutralizing Unfair Chinese Export Subsidies Act of </b><strong>2021</strong><strong></strong></p> <p>This bill places requirements on the Department of the Treasury related to negotiations to end export credit financing.</p> <p>Specifically, the bill requires Treasury to submit a strategy for U.S. advocacy and cooperation with allies and partners. Such strategy shall encompass how to (1) ensure compliance by China with the financial terms and conditions of the Organization for Economic Cooperation and Development Arrangement on Officially Supported Export Credits, and (2) eliminate subsidized export financing programs and other forms of export subsidies. </p> <p>Additionally, the bill shifts certain requirements for negotiations related to ending export credit financing that currently lay with the President to Treasury.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 5790 IN THE HOUSE OF REPRESENTATIVES October 28, 2021 Mr. Zeldin introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide for working with allies to seek increased compliance by China with certain OECD export credit standards.

1. Short title This Act may be cited as the Neutralizing Unfair Chinese Export Subsidies Act of 2021 . 2. Working with allies to ensure China’s compliance 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 the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a detailed 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 Arrangement 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 Export-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 December 4, 2015, and inserting with the goal of eliminating, before the date that is 10 years after the date of the enactment of the Neutralizing Unfair Chinese Export Subsidies Act of 2021 . (2) Progress report Section 11(e) of such Act ( 12 U.S.C. 635a–5(e) ) is amended by striking 2019 and inserting 2026 . (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 frequently than twice per year before the period.