Orrin Hatch: “I was very interested in the comments of the distinguished Senator from New York and my friend from South Carolina as…”

“I was very interested in the comments of the distinguished Senator from New York and my friend from South Carolina as well. This morning, the Senate will have the opportunity to send a strong message to China and the world community. Whether that signal is one of inward protectionism or outward engagement remains to be seen. In my mind, the choice is clear. If we support the motion to invoke cloture on the underlying bill, we will be sending a signal to China that the Senate is angry over China's manipulation of its currency, but we are not serious about taking real, long-term action to stop it. We are also telling the world community that the United States is turning inward once again, seeking protectionist solutions to global problems, and not interested in working with other countries to solve our current international economic crisis. At the same time, we would be interjecting further uncertainty into our own economic recovery as our exporters and workers face potential retaliation from one of our leading trading partners. There is a better way, and it can be bipartisan. We can defeat cloture and give Senators an opportunity to vote on my amendment, which not only has the best chance of actually resolving our serious currency problems with China but also demonstrates to the international community that the United States will continue to lead by promoting trade liberalization and holding countries accountable to the rules of the game for the long haul.…”