China and America decline to acknowledge what everyone else knows: China suppresses the value of its currency to gain a trade advantage over America. This is costing America untold numbers of manufacturers and millions of jobs. The U.S. Treasury Department, which is required by the Omnibus Trade and Competitiveness Act of 1988 to name foreign currency manipulators in bi-annual reports, must label China in its April 15 account, then sanction China if it doesn’t begin balancing its currency.
|By: Leo W. Gerard Wednesday March 31, 2010 6:10 pm|
|By: Leo W. Gerard Monday January 11, 2010 8:01 am|
When U.S. companies or unions win trade cases, they anticipate those events being described as instances in which they’ve successfully proved to the U.S. International Trade Commission that China violated international trade rules. Instead, the media have repeatedly characterized the imposition of tariffs as Americans unnecessarily picking fights with the Chinese.