Currency Rate Adjustment and Trade Enforcement Act

[AI summary unavailable — showing source text] Currency Rate Adjustment and Trade Enforcement Act - Requires the Secretary of the Treasury to analyze the exchange rate policies of the People's Republic of China (PRC) to determine whether the PRC maintains the rate of exchange between its currency and the U.S. dollar in a manner that interferes with effective balance of payments adjustments or confers a competitive advantage in international trade that would not exist if the currency value were set by market forces. Directs the Secretary, if such determination is affirmative, to compute the rate of undervaluation against the dollar in the form of a percentage. Requires the Secretary to determine the PRC global balance of trade by comparing China's import and export data by country, as reported by the Chinese Government, with its export and import data, as reported by the government of each country that is a trading partner of China, taking into account reexports to and from China through Hong Kong. Requires the President, in any case in which a report of the Secretary to specified congressional committees includes a rate of undervalution, to seek authorization in the World Trade Organization (WTO) through dispute settlement to: …