China illegally manipulates its currency to boost its exports and undercut U.S. manufacturers. To date, our government has done little to stop this practice, which has resulted in massive trade deficits and millions of lost jobs.
A poll conducted by the Alliance for American Manufacturing shows that voters overwhelmingly favor efforts to penalize nations that cheat to gain unfair trade advantages. Taking action on China’s currency manipulation would yield significant benefits to the U.S. economy, including up to 2.25 million new jobs and a $71.4 billion reduction in our annual deficit.
We urge the administration to expand the number of tools available to fight China’s currency manipulation, and to endorse bipartisan legislation that would level the playing field for American companies.