Blog: GOP vs. GOP on China Currency

Press Release

By:  Richard Burr Olympia Snowe Rob Portman Lindsey Graham Allen West Jeff Sessions III Howard Coble
Date: Oct. 7, 2011
Location: Unknown

To: Reporters, Editors, Producers
Cc: House Republicans
Fr: Democratic Leader's Press Office
Dt: October 7, 2011
Re: GOP vs. GOP on China Currency

American workers are losing their jobs because China manipulates its currency and if we passed legislation to level the playing field for American workers and create jobs by holding countries accountable that create an unfair trade advantage by manipulating their currency, we could help create an estimated 1 to 1.5 million jobs here in America.

There is broad support from House and Senate Democrats--and Republicans:

Sen. Richard Burr (R-North Carolina)
"The trade deficit we have with China represents a dire threat to our economy and has resulted in fewer American exports and the loss of millions of American manufacturing jobs, including many in North Carolina…This trade deficit is due, in large part, to China undervaluing its currency, which is an issue we must address in order to re-establish our competitiveness in the global marketplace." [Winston-Salem Journal, 9/23]

Sen. Lindsey Graham (R-South Carolina)
"Enough is enough…It is about people in my state who will lose their job if we don't do something…The institution I need to be protecting is the American workforce, who is having their clock cleaned by a communist dictatorship who cheats." [Hill, 10/6]

Sen. Rob Portman (R-Ohio)
"I don't think it's at all inconsistent to be for exports but to also ensure that trade is done on a level playing field…It would need to be fairly and carefully administered in order to avoid being in violation of our trade agreements. But I think it can be done or I would not be supportive of this legislation…I'm really encouraged that we're finally moving forward on some bipartisan efforts to actually create jobs." [Cincinnati Enquirer, 10/7]

Sen. Jeff Sessions (R-Alabama)
"…this measure upholds the rule of law. This has nothing to do with protectionism; rather, it's about protecting the principles that make trade work… The time has come for the United States to defend its core economic interests. American workers are the best in the world." [FOX, 10/6]

Sen. Olympia Snowe (R-Maine)
"This day has been far too long in coming for the millions of American workers who are out of work and whose wages have been decimated as a result of our inability to compete with unfairly subsidized Chinese imports." [Kennebec Journal, 10/5]

Rep. Howard Coble (R-North Carolina)
"This bill will at least force China to compete on a level playing field with U.S. manufacturers." [Winston-Salem Journal, 9/20]

Rep. Allen West (R-Florida)
"If someone's out there cheating, you've got to call them out," he told a reporter on Wednesday night. "We're already in a trade war, whatever you want to call it, the trade imbalance with China," and "if you don't take some type of action, you're going to get even worse behavior, and we've got to call the Chinese out on this." [Wall Street Journal, 10/6]

BREAK IN TRANSCRIPT