WASHINGTON - Ways and Means Ranking Member Sander Levin (D-MI) today delivered the following statement to reporters calling for House GOP leaders to act on China currency reform legislation:
“It’s clear to me momentum for China currency reform is building. The need continues to be intense. We know the Chinese trade deficit figure continues to grow, last year reaching $275 billion. Job losses in manufacturing have been estimated at over a million jobs lost. And in the Senate as we know there’s been a bipartisan effort to push this measure forward and it looks like it will reach fruition. Nothing is ever sure in the Senate or in the House but it appears that’s what’s likely to happen.
“So I think the pressure will mount here in the House to act. We have 225 co-sponsors to the House bill that I introduced. The Senate bill incorporates our bill and has additional provisions relating to anti-dumping and others, and my hope is that the Senate will pass its bill and that the House will then take up our bill that is currently subject to a discharge petition. But I hope that won’t be necessary and that the House Republicans will not stand in the way of action. As the Speaker once said let the majority speak its mind and exercise its will, and then any differences between the two pieces of legislation could be worked out in consultation with the White House. So, as I said the momentum is very much increasing.
“Let me just add, I know the attack is that it would start a trade war. I was interested to read Robert Samuelson’s statement that the trade war has already begun but only one side is fighting. I don’t think we want to fight, I think we want to compete actively and vigorously.
