Bishop Applauds House Effort to Fight Currency Manipulation

Press Release

Following House passage of the Trade Facilitation and Trade Enforcement Act of 2015 (H.R. 644) by a vote of 256-158, Congressman Mike Bishop (MI-08) issued the following statement:

"For too long, the global marketplace has used currency manipulation as a way to put Michigan businesses and auto manufacturers at a disadvantage. The Trade Facilitation and Trade Enforcement Act takes responsible steps to change that, so we can ensure our workforce is able to compete on a more level playing field. By strengthening enforcements against currency manipulation in this customs bill, we can expand our consumer base, create and protect American jobs, and grow our economy here at home. I thank Chairman Brady and the Committee on Ways and Means for giving Michigan workers a fair shot to compete and succeed."

"Congressman Bishop was a leader, along his Michigan colleagues, to ensure that the final customs bill includes new tools to address currency manipulation," said House Ways and Means Chairman Kevin Brady. "I value his help on trade issues and look forward to working together as we continue to pass more pro-growth legislation that will grow our economy and support American workers."

In June, Reps. Mike Bishop, Dave Trott (MI-11), Dan Benishek (MI-01), John Moolenaar (MI-04) and Bill Huizenga (MI-02) issued a letter to Ways and Means Committee leadership, stressing the need to fight currency manipulation in trade-related legislation in the House. As part of the effort to protect Michigan and America's workforce, the letter encouraged the inclusion of "tools and procedures for enhanced oversight of international exchange rates and policies," in addition to "strengthening trade enforcement against currency manipulation."

Source