On the recordSeptember 29, 2010
I appreciate the effort, Mr. Speaker, by Chairman Levin to address the concerns of Ranking Member Camp and other Republican Members that were raised at our various hearings. And while the revised version addresses the WTO consistency issue, my view is that, on balance, the promises that this bill makes to compel China to appreciate its currency to reduce the trade deficit and to create U.S. jobs won't be realized, and, therefore, I oppose this bill. Rather than focus on China's currency policy alone, a priority must be creating American jobs by promoting U.S. exports, and this bill doesn't do enough to provide new market access for American businesses, farmers, and workers. If we are to meet the President's goal of doubling exports, we must focus our energy on tearing down real substantive barriers to U.S. access to China's consumers. We must require China to better U.S. intellectual property rights and end its directed lending, cease its innovative policy, and move other artificial barriers to U.S. exports. Such an effort would benefit thousands more American workers than the focus on China currency alone. I am concerned that moving on this bill makes it more difficult for us to resolve these other issues, and I think we ought to be careful to avoid doing more harm than good in tearing down these barriers.
