HR 6120 · 98th Congress · Foreign Trade and International Finance

Copper and Extractive Industries Fair Competition Act of 1984

Introduced 1984-08-09· Sponsored by Rep. McNulty, James F., Jr. [D-AZ-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on International Development Institutions and Finance.(1984-09-14)

Plain Language Summary

[AI summary unavailable — showing source text] Copper and Extractive Industries Fair Competition Act of 1984 - Amends the Bretton Woods Agreements Act to direct the U.S. Executive Director of the International Monetary Fund to present proposals to the Fund's Executive Board to ensure that countries experiencing a shortfall in export earnings from nonfuel, nonmetal, or nonferrous metals or minerals may not borrow from the Fund's compensatory financing facility if such shortfall was produced by declining prices of such commodities in surplus on world markets unless the borrowing country agrees to take certain actions to stabilize the market for the commodity. Directs the U.S. Executive Director to vote against providing financing assistance to countries producing surplus commodities before the Executive Board completes action that would implement the limitation on borrowing by such countries. Directs the Secretary of the Treasury to prepare quarterly reports for the President and Congress: (1) listing all appraisal reports which have been circulated during the preceding quarter within certain international financial institutions for project assistance to help a country produce a commodity for export if the commodity is in surplus…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (4)

3 Democrats1 Republican