Senator Tells China its 'Unfair Trade Practices Will Not Be Tolerated'

Nov. 17, 2011
Sen. Bob Casey: "For far too long, the U.S. has allowed China to manipulate its currency without consequence and the practice has taken a dramatic toll on Pennsylvania's companies and workers."

A key U.S. senator said he has delivered the message that "China's unfair trade practices will not be tolerated" in a meeting Thursday with the head of the country's vast sovereign wealth fund.

Sen. Bob Casey, D-Pa., said he met with China Investment Corporation Chairman Lou Jiwei; Zhou Wenzhong, a former Chinese ambassador to Washington and now secretary-general of Boao Forum for Asia; and Zhang Guobao, chairman of the advisory board of China's National Energy Commission.

"I made clear that China's unfair trade practices will not be tolerated," said Casey, who has pushed President Obama's administration to formally accuse Beijing of keeping its currency artificially cheap.

"For far too long, the U.S. has allowed China to manipulate its currency without consequence and the practice has taken a dramatic toll on Pennsylvania's companies and workers," said Casey, who represents the state.

Lawmakers in Washington charge that Beijing's currency policy makes its goods unfairly cheap, pushing U.S. firms out of business and costing jobs in the sour U.S. economy, weighed down by unemployment over 9%.

Copyright Agence France-Presse, 2011

Popular Sponsored Recommendations

Decarbonization Navigator: A Toolkit for Organizations

Sept. 28, 2023
The increasing urgency of addressing climate change along with stakeholder pressures are driving the need for organizations to prioritize decarbonization. Discover how to start...

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!