Political Quotes

“I thank my very good friend, Chairman Hill, for his leadership. Mr. Speaker, I rise in support of my legislation, the China Exchange Rate Transparency Act, H.R. 692, a bipartisan bill supported by my colleagues on both sides of the aisle. This legislation directly confronts the People's Republic of China's very nebulous, opaque, and often manipulative practices in foreign exchange markets, including their policy of intentionally depreciating their own currency, which undercuts the competitiveness of U.S. exports in a random manner that is targeted based upon products in particular industries. By mandating the U.S. Executive Director at the International Monetary Fund to use the voice and vote of the United States to advocate for increased exchange rate transparency from China, we are not just advocating for fairness; we are fighting for the integrity of the global economy in line with our own international trade goals. It is very reasonable. During Treasury Secretary Bessent's nomination hearing, he explained that the United States can leverage foreign exchange rates to make U.S. exports more competitive; however, achieving this will require every country to abide by the same exchange rate standards. It is time we, in fact, confront China's persistent gaming of international norms. They have been playing by their own rules for too long, and it is detrimental to global economic fairness and stability.…”