Neutralizing Unfair Chinese Export Subsidies Act of 2025

This bill aims to push China to follow international standards on government-backed export loans. It tells the Treasury Department to work with U.S. allies and send Congress a detailed plan within 180 days for getting China to comply with OECD export credit rules. It also shifts leadership on related global talks from the President to the Treasury Secretary, working with the U.S. Trade Representative.

The bill sets how Treasury should judge whether China is manipulating its currency: look at China’s compliance with International Monetary Fund rules, the transparency of its exchange rate policies, and big government support for certain industries. Treasury can make this call even if China has a global current account surplus. If Treasury finds manipulation, the U.S. must oppose any increase to China’s quota at the IMF for one year after that decision, except for a legally authorized amendment to the IMF’s rules.

• Who is affected: U.S. Treasury, U.S. allies, China’s government, the IMF, and Congress.
• What changes: Treasury must submit a 180-day plan; Treasury leads negotiations; clearer tests for deciding if China manipulates its currency; the U.S. must oppose raising China’s IMF quota for one year after any manipulation finding.
• When: The plan is due within 180 days of the law taking effect; the IMF quota opposition lasts one year after a manipulation finding.