Inconsistent signals on China legislation
Politico reporter Ben Smith spotted an interesting contradiction in Club for Growth President Chris Chocola's criticism of a pending Senate bill regarding China's undervalued currency:
back in 2005, when Chocola was a congressman, he introduced a bill in the House, the CHINA Act, that would have imposed similar tariffs on China if it tried to manipulate its currency.
Chocola was right to be concerned in 2005 about China's deliberately undervalued currency. The artifificially undervalued yuan is a prime cause of the growing U.S. trade deficit with China, which has cost 2.8 million jobs over the past decade.
Related recent Blogs
- President Obama visits Baltimore factory to promote infrastructure investment as a means of revitalizing the middle class • by LDonia • 05/17/2013
- Five reasons you should be concerned about the U.S. military's reliance on foreign manufacturers. • by LDonia • 05/16/2013
- Looking for a manufacturing job? Consider heading to one of these ten metro areas! • by mmcmullan • 05/16/2013
- National Retail Federation dismisses global safety plan for garment factories while Cambodian shoe factory collapses. • by LDonia • 05/16/2013
- OPINION: Aren't we better off buying safe, Made-in-USA products? • by scapozzola • 05/16/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
- U.S. Senate Passes Water Resources Development Act (WRDA) with Buy America Amendment Included. • by scapozzola • 05/15/2013
- And the crystal ball says that U.S. manufacturing is going up/down/sideways... • by scapozzola • 05/15/2013
- Japan's currency moves are heating up a trade problem • by scapozzola • 05/15/2013
- May 15, 2013 Headlines: U.S. manufacturing slows, while manufacturers discuss domestic production, and more... • by LDonia • 05/15/2013