Fair Currency Enforcement Act of 2005

[AI summary unavailable — showing source text] Fair Currency Enforcement Act of 2005 - Directs the President to: (1) begin bilateral and multilateral negotiations for a 90-day period with those governments of nations determined to be engaged most egregiously in currency manipulation; (2) seek a prompt and orderly end to such currency manipulation; and (3) ensure that the currencies of these countries are freely traded on international currency markets, or are established at a level that reflects a more appropriate and accurate market value. Requires the International Trade Commission (ITC), during the 90-day negotiation period, to study and report to the President, the U.S. Trade Representative (USTR), the Secretary of the Treasury, and the appropriate congressional committees on currency manipulation by trading countries to increase their exports to the United States and limit their imports of U.S. products. Directs the President, at the end of the negotiation period, if agreements are not reached to end currency manipulation promptly, to: (1) institute proceedings under the relevant U.S. and international trade law with respect to those countries that, based on the ITC findings, continue to engage in the most egregious curren…