by James Parks, Jul 12, 2010
Now that the Treasury Department once again has refused to label China as a currency manipulator, it is more important than ever for Congress to pass strong legislation quickly to stop the unfair and illegal advantage against U.S. producers that China and other nations gain by undervaluing their currency.
On July 13, tens of thousands of manufacturers across the country—members of the Fair Currency Coalition and the Coalition for a Prosperous America—will join with union members and citizen trade groups in a National Currency Call-In Day to ratchet up the pressure on the Obama administration and Congress to hold currency manipulators accountable.
A bipartisan group of senators is considering attaching S. 3134, the Currency Exchange Rate Oversight Reform Act of 2010, to legislation that may pass at anytime. Introduced by Sen. Charles Schumer (D-N.Y.), the legislation would give our government the tools it needs to address currency manipulation.
