NYC Gazette

(Washington, DC): Congressman George Santos (NY-03) introduced H. Con, Res 421, which expresses that the House of Representatives find that the Chinese Communist Party should be held accountable for present-day efforts of knowingly and intentionally manipulating their currency.

“This bill is the first of many on holding the CCP accountable coming from my office,” said Rep. Santos. “Under this resolution, the House of Representatives supports the actions of Former Secretary Mnuchin to engage in the International Monetary Fund to eliminate the unfair competitive advantage created by China in 2019 and calls on the Biden administration to take similar action. These are vital steps we need to take to prevent China’s fervent infiltrations and violations of democracy.”

Background on H. Con. Res 421: ­­

• The U.S. Treasury Department officially named China a currency manipulator after the Peoples Bank of China devalued the yuan in response to new tariffs imposed by the U.S. and set to take effect on Sept. 1, 2019.

Original source can be found here.