Nebraska News
Schumer Legislation Calls for Chinese to Change
The goal is to create new jobs in Western New York and across the nation.
Schumer says China has an unfair trade advantage because it manipulates its currency.
In Clarence Monday, the New York City Democrat insisted [he's] "had enough." He says if the bill's approved, everything from China would be slapped with a 30 percent tariff.
"Our country has a lot of debt and China owns a lot of it, " said Schumer. "But if they start selling their dollars, the value of the dollar would go down and they'd be cutting off their nose to spite their face."
Schumer says the bill has bi-partisan support and he predicts it will pass by more than 70 votes.
Western New York's manufacturing base has shrunk by 43 percent in the last decade, he says, in part due to artificially cheap Chinese imports.
© Copyright 2013, wned
(2010-04-06)
BUFFALO
(wned) -
Senator Charles Schumer is pushing legislation that would make products made in the U.S.A. more competitive with Chinese goods. The goal is to create new jobs in Western New York and across the nation.
Schumer says China has an unfair trade advantage because it manipulates its currency.
In Clarence Monday, the New York City Democrat insisted [he's] "had enough." He says if the bill's approved, everything from China would be slapped with a 30 percent tariff.
"Our country has a lot of debt and China owns a lot of it, " said Schumer. "But if they start selling their dollars, the value of the dollar would go down and they'd be cutting off their nose to spite their face."
Schumer says the bill has bi-partisan support and he predicts it will pass by more than 70 votes.
Western New York's manufacturing base has shrunk by 43 percent in the last decade, he says, in part due to artificially cheap Chinese imports.
© Copyright 2013, wned

