,i #aac? ,,congress #a/ ,session ,h4 ,r4 #abgf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,m>* #bj1 #bjac ,mr4 ,lev9 7= himself1 ,mr4 ,brooks ( ,alabama1 ,mrs4 ,capito1 ,mr4 ,coble1 ,mr4 ,cony]s1 ,mr4 ,coop]1 ,mr4 ,cumm+s1 ,mr4 ,de,fazio1 ,mr4 ,d+ell1 ,mr4 ,eny>t1 ,mr4 ,griffi? ( ,virg9ia1 ,mr4 ,grijalva1 ,mr4 ,h>p]1 ,mr4 ,higg9s1 ,mr4 ,ellison1 ,mr4 ,fo/]1 ,mr4 ,johnson ( ,ohio1 ,mr4 ,jones1 ,ms4 ,kaptur1 ,mr4 ,lip9ski1 ,mr4 ,lyn*1 ,mr4 ,mc,henry1 ,mr4 ,mc,kinley1 ,mr4 ,meehan1 ,mr4 ,mi*aud1 ,mr4 ,george ,mill] ( ,cali=nia1 ,mr4 ,murphy ( ,p5nsylvania1 ,mr4 ,ow5s1 ,mr4 ,pocan1 ,mr4 ,rangel1 ,mr4 ,ryan ( ,ohio1 ,ms4 ,s*w>tz1 ,ms4 ,%ea-,port]1 ,ms4 ,slaught]1 ,mr4 ,?ompson ( ,p5nsylvania1 ,mr4 ,turn]1 ,mr4 ,visclosky1 ,mr4 ,wel*1 & ,mr4 ,"y ( ,alaska7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d title ,,vii ( ! ,t>iff ,act ( #aicj to cl>ify t c\nt]vail+ duties may be impos$ to address subsidies relat+ to a fundam5tally und]valu$ curr5cy ( any =eign c\ntry4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,curr5cy ,re=m = ,fair ,trade ,act4 #b4 ,cl>ification reg>d+ def9ition ( c\nt]vailable subsidy 7a7 ,b5efit conf]r$ ,section #gga7e77;,e7 ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afgg7e77;,e77 is am5d$-- 7#a7 9 clause 7iii71 by /rik+ & at ! end2 7#b7 9 clause 7iv71 by /rik+ ! p]iod at ! end & ins]t+ 1 &2 & 7#c7 by ins]t+ aft] clause 7iv7 ! foll[+ new clause3 7v7 9 ! case 9 :i* ! curr5cy ( a c\ntry 9 :i* ! subject m]*&ise is produc$ is ex*ang$ = =eign curr5cy obta9$ f export transactions1 & ! curr5cy ( su* c\ntry is a fundam5tally und]valu$ curr5cy1 z def9$ 9 p>agraph 7#cg71 ! diff]5ce betwe5 ! am\nt ( ! curr5cy ( su* c\ntry provid$ & ! am\nt ( ! curr5cy ( su* c\ntry t w\ld h be5 provid$ if ! real effective ex*ange rate ( ! curr5cy ( su* c\ntry 7 n und]valu$1 z det]m9$ pursuant to p>agraph 7#ch74 4 7b7 ,export subsidy ,section #gga7e;,a77,b7 ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afgg7e;,a77,b77 is am5d$ by add+ at ! end ! foll[+ new s5t5ce3 ,9 ! case ( a subsidy relat+ to a fundam5tally und]valu$ curr5cy1 ! fact t ! subsidy may also be provid$ 9 circum/ances n involv+ export %all n1 = t reason alone1 mean t ! subsidy _c be consid]$ cont+5t ^u export p]=mance44 7c7 ,def9ition ( fundam5tally und]valu$ curr5cy ,section #gga ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afgg7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#cg7 ,fundam5tally und]valu$ curr5cy ,! adm9i/]+ au?ority %all det]m9e t ! curr5cy ( a c\ntry 9 :i* ! subject m]*&ise is produc$ is a fundam5tally und]valu$ curr5cy if-- 7,a7 ! gov]nm5t ( ! c\ntry 7includ+ any public entity )9 ! t]ritory ( ! c\ntry7 engages 9 protract$1 l>ge-scale int]v5tion 9 "o or m =eign ex*ange m>kets dur+ "p or all ( ! #ah-mon? p]iod t repres5ts ! mo/ rec5t #ah mon?s = :i* ! in=mation requir$ "u p>agraph 7#ch7 is reasonably available1 b t does n include any p]iod ( "t lat] ?an ! f9al mon? 9 ! p]iod ( inve/igation or ! p]iod ( review1 z applicable2 7,b7 ! real effective ex*ange rate ( ! curr5cy is und]valu$ by at lea/ #e p]c5t1 on av]age & z calculat$ "u p>agraph 7#ch71 relative to ! equilibrium real effective ex*ange rate = ! c\ntry's curr5cy dur+ ! #ah-mon? p]iod2 7,c7 dur+ ! #ah-mon? p]iod1 ! c\ntry has exp]i5c$ significant & p]si/5t global curr5t acc\nt surpluses2 & 7,d7 dur+ ! #ah-mon? p]iod1 ! =eign asset res]ves held by ! gov]nm5t ( ! c\ntry exce$-- 7i7 ! am\nt necess>y to repay all debt obligations ( ! gov]nm5t fall+ due )9 ! com+ #ab mon?s2 7ii7 #bj p]c5t ( ! c\ntry's money supply1 us+ /&>d measures ( ,m#b2 & 7iii7 ! value ( ! c\ntry's imports dur+ ! previ\s #d mon?s4 4 7d7 ,def9ition ( real effective ex*ange rate und]valuation ,section #gga ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afgg71 z am5d$ by subsection 7c7 ( ?is section1 is fur!r am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ch7 ,real effective ex*ange rate und]valuation ,! calculation ( real effective ex*ange rate und]valuation1 = purposes ( p>agraph 7#e77;,e77v7 & p>agraph 7#cg71 %all-- 7,a7 7i7 rely ^u1 & :]e appropriate be ! simple av]age (1 ! results yield$ f application ( ! approa*es describ$ 9 ! guidel9es ( ! ,int]national ,monet>y ,fund's ,consultative ,gr\p on ,ex*ange ,rate ,issues2 or 7ii7 if ! guidel9es ( ! ,int]national ,monet>y ,fund's ,consultative ,gr\p on ,ex*ange ,rate ,issues are n available1 be bas$ on g5]ally accept$ economic & econometric te*niques & me?odologies to measure ! level ( und]valuation2 7,b7 rely ^u data t are publicly available1 reliable1 & compil$ & ma9ta9$ by ! ,int]national ,monet>y ,fund or1 if ! ,int]national ,monet>y ,fund _c provide ! data1 by o!r int]national organizations or by national gov]nm5ts2 & 7,c7 use inflation-adju/$1 trade-weight$ ex*ange rates4 4 #c4 ,report on implem5tation ( ,act 7a7 ,9 g5]al ,n lat] ?an #i mon?s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all submit to ,congress a report on ! implem5tation ( ! am5dm5ts made by ?is ,act4 7b7 ,matt]s ,to be includ$ ,! report requir$ by subsection 7a7 %all include a description ( ! ext5t to :i* ,unit$ ,/ates indu/ries t h be5 mat]ially injur$ by reason ( imports ( subject m]*&ise produc$ 9 =eign c\ntries ) fundam5tally und]valu$ curr5cies h receiv$ relief "u title ,,vii ( ! ,t>iff ,act ( #aicj 7#ai ,u4,s4,c4 #afga et seq471 z am5d$ by ?is ,act4 #d4 ,application to goods f ,canada & ,mexico ,pursuant to article #aijb ( ! ,nor? ,am]ican ,free ,trade ,agreem5t & section #djh ( ! ,nor? ,am]ican ,free ,trade ,agreem5t ,implem5tation ,act ( #aiic 7#ai ,u4,s4,c4 #cdch71 ! am5dm5ts made by section #b ( ?is ,act %all apply to goods f ,canada & ,mexico4