Larson Urges Action on China Currency Bill
WASHINGTON – House Democratic Caucus Chairman John B. Larson (CT) called for House action on the China currency bill today following its passage in the Senate by a bipartisan vote of 63 to 35. A majority of the House – including over 60 Republicans – have endorsed the legislation to level the playing field for American workers and create over a million jobs by holding countries accountable that create an unfair trade advantage by manipulating their currency:
“I want to congratulate the Senate on passing this critical piece of legislation.
“A trade agreement only works if both parties are negotiating in good faith. But by keeping their currency undervalued, China makes their products cheaper. And it’s no surprise that these subsidized exports have hurt our manufacturing base.
“I’m calling on the Republican leadership in the House to follow the Senate’s example and take up this bill so that we can ensure that American business can compete on a level playing field.
“This goes back to one of the basic principles of America - fairness. That's what Americans expect. Not a special deal. A fair deal. It’s time we give that to our manufacturers.”