Issue Position: China and Currency Manipulation

Issue Position

China currently has their currency pegged to a basket of six other currencies, which allows them to increase their purchasing power for U.S. goods. This is often referred to as "currency manipulation". As these six currencies fluctuate, the Chinese Yuan fluctuates accordingly (the purchasing power is constant). They can purchase dollars for very cheap, and in turn, purchase U.S. made products for a lot cheaper than we can with our own money. In conjunction with several of his peers in Congress, Tim introduced H.R. 2378 - The Currency Reform and Fair Trade Act, to help bring the currency markets to a more level playing field. This bi-partisan legislation will remove all unfair disadvantages that the U.S. and the U.S. consumers face. Read more about H.R. 2378

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