This bill directs the Secretary of the Treasury to develop a detailed strategy within 180 days to enhance United States cooperation with allies. The strategy's primary goal is to ensure China's substantial compliance with the financial terms and conditions of the OECD Arrangement on Officially Supported Export Credits and to work towards eliminating unfair export subsidies. It also amends existing law to shift the lead for international negotiations on export subsidies from the President to the Secretary of the Treasury, mandating these negotiations occur at least twice per year. Additionally, the legislation establishes specific criteria for the Secretary of the Treasury when assessing whether China has manipulated its currency. These criteria include China's adherence to its International Monetary Fund (IMF) Article VIII obligations , the transparency of its exchange rate management, and significant government support to economic sectors. Should China be determined a currency manipulator, the Secretary must instruct the U.S. Governor of the IMF to oppose any proposal to increase China's quota in the Fund for one year.