Political Quotes

On the recordMay 14, 2015
Big companies have been hurt. Small companies have been hurt. We have lost millions of jobs because of currency manipulation, which makes the exports from China and other countries about 33 percent cheaper and imports from America to China 33 percent more expensive. I would say this: China seems to feel they can get away with any kind of trade misdeed, whether it is stealing intellectual property by cyber security or any other means, whether it is keeping out the best of American products, which they do until they can learn how to make them themselves in their protected market and then fight us everywhere else. This currency bill will finally be the first real shot across the bow to China that you cannot keep getting away from it. Their unfair trade practices hurt us in low-wage industries that were very important-- shoes, clothing, toys, furniture. Those industries have already suffered. But if we do nothing, it will be the cream of American industry where our innovation and hard work is lost to China through unfair means, currency and other, whether it is tech or pharmaceuticals. Talk to the CEOs of these companies, and they will tell you China does not play fair. Talk to them, and they will tell you that the Chinese shrug their shoulders at what we have done up until now. We must do something--if not in the TPA bill, alongside it--that shows China once and for all they cannot get away with it.…
Said by
Chuck Schumer
Democratic · New York
Source
govinfo.gov
May 14, 2015

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