[CTC] More Jobs at Risk from Unfair Trade

[Amy McAuliffe]

US Unions Demand For China Currency Bill 

http://topnews.co.uk/28615-us-unions-demand-china-currency-bill

 

The largest Labour group in U. S. advocated Congress for passing the
legislation to fight China's currency practices. This suggestion from Labour
group has come a day after the refusal of Obama Administration to name
Beijing as a currency manipulator.

 

Richard Trumka, President of the AFL-CIO Labor Federation said that the
Government should consider the options available and also the China's
currency practices at the World Trade Organization should be considered.

 

According to Trumka, the Chinese Government has invaded in currency markets
over many years.

 

The Labor group has urged Congress to pass a bipartisan bill. Democratic
senators, Charles Schumer, Debbie Stabenow and Republican Senator, Lindsay
Graham with 16 more senators are supporting the bill. All these senators
have confirmed their support for the bill. The bill, if passed, will enable
the United States to use countervailing duty laws and antidumping against
the exchange rate adopted by China.

 

"The distortion of the Chinese currency has gone on too long and cost too
many American jobs", Graham said.

 

In the meantime, the treasury Department on Thursday said that China's Yuan
is undervalued, but it also refused to label Beijing as a currency
manipulator. If the U. S. does so, it would lead to damages in the trade
ties between the two countries.

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