US HB386

Secretary of the Treasury must direct U.S. representatives at the International Monetary Fund to oppose any increase in the Chinese renminbi's weight in the Special Drawing Rights currency basket

Opposition mandate can be waived only if the Secretary certifies to Congress that China complies with Article VIII of the IMF Articles of Agreement

Certification also requires no finding of currency manipulation by China under the Omnibus Trade and Competitiveness Act of 1988 or the Trade Facilitation and Trade Enforcement Act of 2015 in the preceding 12 months

China must adhere to Paris Club rules and OECD Arrangement on Officially Supported Export Credits for the waiver to apply

Provisions sunset 10 years after enactment; passed House of Representatives on February 10, 2025