Encouraging Congress to tackle currency manipulation.
In a recent op-ed for the Huffington Post, Alliance for American Manufacturing (AAM) President Scott Paul said it's important for Washington to take on countries, like China, that manipulate their currency to gain a trade advantage:
Designating another government a deliberate trade cheat is a serious charge. Doing so would be the first step in formal action by Washington to addressing the problem, as it would initiate formal negotiations on the issue of currency between the accused government and our own. And if those talks broke down, it would allow our government to seek redress through direct sanctions.
Unfortunately, the Obama Administration has yet to designate Beijing as a currency manipulator:
... If you're an entrenched interest that finds the idea of Treasury applying the currency manipulator label a little worrisome, don't worry: At the Obama administration's Treasury Department, they're cautious. So cautious, in fact, that they've let one of the world's most egregious trade cheats -- the Chinese government -- slide despite eight opportunities do something about it since the start of the president's first term.
Luckily, our much-beloved Congress is doing something about Chinese currency manipulation while Treasury rests on its laurels. Is your representative on board with legislation that would help curb China's cheating? Make sure! Send them a letter.
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