What This Bill Does
This bill directs the U.S. Treasury Secretary to work with other countries to get China to follow certain export credit standards. The bill also changes who leads negotiations on export subsidies and requires those negotiations to happen more frequently.
Who It Affects
The Secretary of the Treasury, the Committee on Financial Services in the House, the Committee on Banking, Housing, and Urban Affairs in the Senate, the United States Trade Representative, and China.
Key Provisions
• The Treasury Secretary must submit a detailed strategy and timeline within 180 days to Congress about strengthening U.S. work with allies to ensure China complies with the OECD Arrangement on Officially Supported Export Credits (Sec. 2(a))
• The Treasury Secretary, working with the United States Trade Representative, now leads negotiations on export subsidies instead of the President (Sec. 2(b)(3)(A))
• Negotiations on eliminating export subsidies must happen at least twice per year (Sec. 2(b)(3)(B) and 2(b)(3)(D))
• A progress report on these negotiations is due in 2029 instead of 2019 (Sec. 2(b)(2))
What Changes
The Treasury Secretary takes over responsibility for negotiating on export subsidies from the President. Negotiations must occur at least twice yearly instead of no specific frequency. The deadline for a progress report moves from 2019 to 2029.
Important Definitions
OECD Arrangement on Officially Supported Export Credits - financial terms and conditions for export credits that the bill says China should follow. Not specified in bill text for other technical terms.
Effective Date
Not specified in bill text
I
118TH CONGRESS
1ST SESSION H. R. 1137
To provide for working with allies to seek increased compliance by China
with certain OECD export credit standards.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 21, 2023
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-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Neutralizing Unfair
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Chinese Export Subsidies Act of 2023’’.
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SEC. 2. WORKING WITH ALLIES TO ENSURE CHINA’S COM-
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PLIANCE WITH OECD STANDARDS.
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(a) IN GENERAL.—Within 180 days after the date
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of the enactment of this Act, the Secretary of the Treasury
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shall submit to the Committee on Financial Services of
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•HR 1137 IH
the House of Representatives and the Committee on
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Banking, Housing, and Urban Affairs of the Senate a de-
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tailed strategy and timeline with respect to—
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(1) strengthening United States advocacy and
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cooperation with appropriate allies and partners to
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seek to ensure substantial compliance by China with
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the financial terms and conditions of the OECD Ar-
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rangement on Officially Supported Export Credits;
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and
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(2) the goal described in section 11(a)(1) of the
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Export-Import Bank Reauthorization Act of 2012.
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(b) INTERNATIONAL
NEGOTIATIONS
ON
EXPORT
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SUBSIDIES.—
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(1) IN GENERAL.—Section 11(a)(1) of the Ex-
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port-Import Bank Reauthorization Act of 2012 (12
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U.S.C. 635a–5(a)(1)) is amended by striking ‘‘with
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the possible goal of eliminating, before the date that
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is 10 years after the date of the enactment of the
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Export-Import Bank Reform and Reauthorization
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Act of 2015,’’ and inserting ‘‘with the goal of elimi-
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nating, before the date that is 10 years after the
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date of the enactment of the Neutralizing Unfair
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Chinese Export Subsidies Act of 2023’’.
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•HR 1137 IH
(2) PROGRESS REPORT.—Section 11(e) of such
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Act (12 U.S.C. 635a–5(e)) is amended by striking
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‘‘2019’’ and inserting ‘‘2029’’.
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(3) CONDUCT OF NEGOTIATIONS.—Section 11
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of such Act (12 U.S.C. 635a–5) is amended—
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(A) in each of subsections (a) and (d), by
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striking ‘‘The President’’ and inserting ‘‘The
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Secretary of the Treasury, in consultation with
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the United States Trade Representative,’’;
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(B) in subsection (a), by inserting ‘‘, and
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endeavor to hold not less frequently than twice
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per year,’’ before ‘‘negotiations’’;
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(C) in each of subsections (b), (c), and (e),
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by striking ‘‘President’’ each place it appears
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and inserting ‘‘Secretary of the Treasury’’; and
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(D) in subsection (d), by inserting ‘‘, and
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endeavor to hold such negotiations not less fre-
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quently than twice per year’’ before the period.
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Æ
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