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Ryan's Fair Trade bill scores big win for US workers; faces Senate hurdle



Published: Fri, October 1, 2010 @ 6:30 a.m.

washington

U.S. Rep. Tim Ryan of Niles, D-17th, scored a major legislative victory this week with the passage of his Currency Reform for Fair Trade Act.

The bipartisan bill, which would allow the U.S. to crack down on Chinese currency manipulation, cleared the House with a 348-79 vote Wednesday evening.

Introduced by Ryan and U.S. Rep. Tim Murphy of Pennsylvania, R-18th, last year, the legislation had 159 co-sponsors in the House and garnered support from domestic manufacturers, the United Steelworkers union and several trade

organizations including the American Iron and Steel

Institute and the Alliance for American Manufacturing.

The bill directs the U.S. Department of Commerce to treat foreign currency manipulation as an illegal subsidy and respond by

imposing countervailing duties on imports from countries that undervalue their currency.

“This was a very courageous step on behalf of the Democrats in Congress,” Ryan said in a press-

conference call Thursday. “This will drive investment back into the U.S.”

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Comments

1fatfrank(11 comments)posted 3 years, 10 months ago

“This was a very courageous step on behalf of the Democrats in Congress,” Ryan said in a press-

Nonsense!!

Its not courageous at all. Its pandering to haters and those frightened for their jobs. The Chinese fund our government and give us the money to lend to each other. We need them.

'Chinese don't vote, so lets beat them down and get re-elected' must be the real strategy here.

Suggest removal:

2HaydenThomas(208 comments)posted 3 years, 10 months ago

Timmy is just playing to the base. The bill has zero chance of passing the senate and as others have pointed out, what happens when the Chinese demand their money back? Also, what happens to GM when the Chinese retaliate and quit buying GM cars?

Suggest removal:


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