China Exchange Rate Transparency Act of 2024

S 4418, the China Exchange Rate Transparency Act of 2024, requires the U.S. Treasury to advocate at the International Monetary Fund (IMF) for greater transparency in China’s exchange rate policies and practices. Within 90 days of enactment, the Treasury must determine if China meets criteria for designation as a currency manipulator under existing law. The bill expires either 30 days after China complies with IMF transparency obligations or 7 years after enactment, whichever comes first. It directly affects U.S. diplomatic and financial engagement with China regarding currency policy.