WASHINGTON, D.C. - Ways and Means Committee Chairman Sander M. Levin (D-MI) issued the following statement today regarding the Department of Treasury’s announcement of a delay in the issuance of the semi-annual report on exchange rates:
“The announced delay is for a definite period and for a defined purpose. It is to see if, in the next few months, the international community will address the causes of major global imbalances, including China’s substantial undervaluing of its currency, which hurts American jobs and businesses. If the multilateral effort does not result in China’s making significant changes, the Administration and Congress will have no choice but to take appropriate action."
