Friday, February 17, 2006
White House hardens stance on China trade
www.businessweek.com
Portman vowed to "use all options available" to meet this goal.
[...]
Sen. Charles Schumer, D-N.Y., faulted the administration's report for failing to deal with what many manufacturing companies see as a major contributor to the trade gap -- Chinese policies that keep China's currency undervalued against the U.S. dollar, giving the country huge trade advantages against U.S. producers.
"It is amazing that in a comprehensive 29-page report, the trade representative fails to mention the 800 pound gorilla in the room -- how China manipulates its currency."
Portman vowed to "use all options available" to meet this goal.
[...]
Sen. Charles Schumer, D-N.Y., faulted the administration's report for failing to deal with what many manufacturing companies see as a major contributor to the trade gap -- Chinese policies that keep China's currency undervalued against the U.S. dollar, giving the country huge trade advantages against U.S. producers.
"It is amazing that in a comprehensive 29-page report, the trade representative fails to mention the 800 pound gorilla in the room -- how China manipulates its currency."
