FOR IMMEDIATE RELEASE
Contact: Sara Haimowitz, Development Director
202 688 5145, [email protected]
China’s Recent Currency Devaluation Reveals US Trade Strategy Weakness
CPA issued the following statement in response:
“The Senate passed strong a currency manipulation bill on May 14, 2015 called the Trade Facilitation and Trade Enforcement Act of 2015 (S 1269), by an overwhelming vote of 78-20. The bill would allow effectively tailored sanctions against economic harm caused by currency cheating by other governments. The House should vote upon and pass that bill when it returns from August recess.
“House leadership needs to hold a vote on S 1269, pass it and send it to President Obama for signature. Congress also needs to make clear that any new trade agreements without effective currency remedies will not be approved.”