To prohibit the Overseas Private Investment Corporation from providing insurance or financing to countries that subsidize their steel industries and for projects producing goods subject to antidumping duties, to require the United States to oppose the provision by the International Monetary Fund of assistance to countries which subsidize their steel industries, and to ban assistance by the Export-Import Bank of the United States to countries that subsidize their steel industries.
Steel Financing Fairness Act - Prohibits the Overseas Private Investment Corporation from providing insurance or financing for a project: (1) in any country that grants a subsidy to its steel industry until three months after such subsidy is eliminated; or (2) that produces, outside of the United States, any product subject to antidumping duties.
Amends the Bretton Woods Agreements Act to require the Secretary of the Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund to oppose any assistance from the Fund to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated; and (2) reduce the U.S. contribution to the Fund if the Fund provides assistance to any such government during such period.
Amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, or extending credit for exports to any foreign government that subsidizes its steel industry until three months after such subsidy is eliminated.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsor introductory remarks on measure. (CR E1768-1769)
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
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