Congresswoman Hochul Urges Action On Trade

Press Release

This week, Congresswoman Kathy Hochul took action to force a vote on bipartisan job creating legislation that would crack down on China's unfair currency manipulation and force China to play by the rules on trade. Hochul joined other House Members in signing a petition to bring up The Currency Reform for Fair Trade Act, a bipartisan measure from Reps. Sander Levin (D-MI), Tim Murphy (R-PA), and Tim Ryan (D-OH).

"The time for Washington to act is now," said Congresswoman Hochul. "This move will force the House Leadership to allow a vote on the Currency Reform for Fair Trade Act. This is about supporting American companies and American manufacturers and helping them create between half a million and 2 million jobs. Not only would it enhance our economic and national security, but it would do so at no cost to American taxpayers."

The Currency Reform for Fair Trade Act will help American businesses compete on a more level playing field by treating fundamentally undervalued currencies as a prohibited subsidy, allowing the U.S. to take action to counter this unfair trade practice. This legislation is an essential element in addressing currency manipulation by the Chinese government that has jeopardized efforts to create and preserve U.S. manufacturing jobs.

"For far too long China has gotten away with manipulating its currency to decrease the price of its goods on the world market," Hochul added. "I believe American products can and will compete, and we'll see a resurgence in exports here in America when we make our trading partners play on fair ground."

The Chinese government continues to intervene in the markets to suppress the value of its currency -- making American exports more expensive and Chinese products cheaper.

The legislation overwhelmingly passed the House of Representatives last year with a vote of 348-79.

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