Dave Camp: “The implementing bill before us reflects a carefully negotiated agreement that involved the White House, the U.S. Trade…”

“The implementing bill before us reflects a carefully negotiated agreement that involved the White House, the U.S. Trade Representative, and bipartisan staffs and members from both Ways and Means and Finance. All four offices were consulted at every step of the process and all sides were fully involved. This provision was not part of that negotiation. In fact, it was not even raised during negotiations. This threatens to undue the carefully negotiated terms of this compromise and set our trade agenda back. This motion is a true poison pill. Any change, even moving a single comma, would strip the bill of fast-track protections under Trade Promotion Authority in the United States Senate. Thus, this motion really isn't about Chinese currency practices. It's an effort to kill the Colombian free trade agreement. In fact, the irony is that the only reason the minority is even allowed to offer this motion is because then-Speaker Pelosi took the unprecedented step of turning off the clock on TPA 3 years ago on the Colombian free trade agreement. Passing this or any other motion would reward that decision to put our trade agenda on ice--a decision that hurt our economy, cost us jobs, as U.S. farmers and exporters lost out on opportunity in that fast-growing country. {time} 1730 Finally, with respect to the substance of this motion, everyone agrees that China's currency is undervalued.…”