'Congress will act' if China doesn't reform trade policies, Rep. Levin says

[Ed Barrow]

Source: Detroit News


House Ways and Means Committee Chairman Sander Levin today warned "Congress will act" if China doesn't change trade policies he and other critics say undermine U.S. companies.

The Royal Oak Democrat said China "has made no progress" on its alleged currency manipulation, selectively uses tax rebates to boost exports, puts export restrictions on raw materials and engages in other unfair trade practices.

"All of these policies have a common thread: They have the purpose or the effect of tilting the playing field to favor Chinese companies and against U.S. companies, workers and farmers," Levin said. "This is not a sound or sustainable basis for a mutually beneficial trading relationship."

The hearing comes as pressure mounts in the Congress for the Obama administration to push China harder to adjust currency and trade policies to enable U.S. companies to sell more products in the growing Chinese domestic market.


Read more: http://www.detnews.com/article/20100616/BIZ/6160401/1001/-Congress-will-act--if-China-doesn-t-reform-trade-policies--Rep.-Levin-says

[SocialistLez]

1. Stop worrying about the Chinese market and stop giving taxbreaks to these greedy ass companies.

In the mean time.....:popcorn: :popcorn:

[DJ13]

2. I wish I could believe they would act

But first they'll need to get their spines out of hock.

[Xipe Totec]

3. Congress will act...

[fascisthunter]

4. "act" as in acting

[davidpdx]

5. They aren't going to do anything, China can continue poisoning people

with their cheap lead based products and our lawmakers will sit on their hands and threaten them.