Political Quotes

John Garamendi: Well, that American Dream is going to be held back by unfair trade policies that are seriously harming the American…

On the recordFebruary 7, 2012
Well, that American Dream is going to be held back by unfair trade policies that are seriously harming the American economy. Early on, I put this up. I don't know that you were here at the time. This is the American trade deficit. Much of this deficit is a deficit in trade with China. A lot of that deficit is caused by Chinese currency manipulation. The Chinese currency is undervalued somewhere around 20 to 25, maybe 27, percent, which gives their manufacturing sector a 20, 25 percent advantage because of the currency manipulation.
Said by
John Garamendi
Democratic · California
Source
govinfo.gov
Feb 7, 2012

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