U.S. Senator Rob Portman (R-Ohio) today released the following statement on the U.S. Department of the Treasury's refusal to name China a currency manipulator in the Semi-Annual Report to Congress on International Economic and Exchange Rate Policies:
"Time and time again, President Obama's tough talk on China has sadly fallen short of his Administration's actions. While on the campaign trail, he promised Ohio workers that he would level the playing field for American workers and protect them against unfair trade practices. Yet after delaying its semi-annual currency report for more than a month, we learned today that the Obama Administration has again shied away from naming China a currency manipulator, a necessary step to prevent Chinese workers from having an unfair advantage over Ohio workers.
"Unfortunately, this is no surprise; the Obama Administration has refused to take on China's currency manipulation eight times. During this time of anemic economic growth, record-setting national debt and stubbornly high unemployment, we cannot afford to sit idly by as China refuses to play by the rules."