If the United States implemented trade policies to end currency manipulation—especially by China—not only would that reduce the U.S. trade deficit by $190 billion to $400 billion over three years, it would be a major first step in reviving the nation’s manufacturing sector and creating up to 4.7 million jobs, according to a new report from the Economic Policy Institute (EPI).
Freshman Sen. Chris Murphy (D-Conn.) says one of his top priorities in the Senate is advancing a “Make It in America” jobs agenda. Murphy, who founded the House “Buy American” Caucus, outlined that agenda in a conference call Wednesday sponsored by the Campaign for America’s Future and the Alliance for American Manufacturing.
U.S. voters across the political spectrum overwhelming have negative views of companies that outsource jobs to China and strongly support Buy America provisions, according to a poll released today by the Alliance for American Manufacturing. Voters also say strengthening manufacturing in the United States is a top economic priority and they back the creation of a national manufacturing strategy to better compete with foreign nations that already have them in place.
The U.S. Senate today will vote on a bill (S. 1619) to hold China accountable for its job-killing practice of currency manipulation. According to new data, 2.8 million American jobs were lost or displaced over the past decade due to the growing U.S. trade deficit with China—fueled by Chinese currency manipulation. (Call your senators today and urge them to vote for S. 1619 or click HERE to e-mail your senators.)
Next week, the U.S. Senate will take up consideration of a bill to address Chinese currency manipulation. The Republican-controlled House is holding up its version of the legislation, even though it passed the House with overwhelming bipartisan support in 2010, with 99 Republicans supporting it.
The U.S.-China trade deficit has eliminated or displaced nearly 2.8 million jobs, mainly in manufacturing, following that country’s entry into the World Trade Organization (WTO) in 2001, according to a study released today. View an interactive map of jobs lost throughout the United States here.
The U.S. government, American businesses and consumers all can play a role in combating China’s unfair trade policies that are weakening the nation’s economy, stealing jobs and giving China unparalleled economic advantages.
China’s currency manipulation should be the main focus of talks this week between high level U.S. and Chinese government officials, says Scott Paul, executive director of the Alliance for American Manufacturing (AAM).
Rebuilding America’s manufacturing base is central to rebuilding our nation’s economy and it’s time for Congress to focus on jobs, AFL-CIO President Richard Trumka said today. Trumka commended Democratic House Whip Steny Hoyer for refocusing attention on job creation by introducing the bipartisan “Make it in America” agenda, a series of proposals that together would create a national manufacturing strategy.