Our trading partners in Asia are gaining an unfair trading advantage against us by manipulating the value of their currency.  This currency manipulation makes products produced in Asia cheaper than American products.  Asian currency manipulation has cost 2.8 million American jobs in less than ten years.  That is why I introduced the first Congressional resolution dealing with Chinese currency manipulation and introduced legislation that would permanently address Chinese currency manipulation. 

My legislation requires the Secretary of the Treasury to make an annual determination regarding whether the exchange rate for the Yuan gives China an unfair competitive advantage, a change that is recommended by the US-China Economic Security Commission.  It also requires the Administration to seek authorization in the World Trade Organization to offset Chinese currency manipulation.  My legislation allows the Administration to continue their current negotiations, but creates a deadline for action.

In 2003, I also worked to double the size of the United States Trade Representative (USTR) and Commerce department’s trade enforcement offices.   Further, I have introduced legislation to create a Deputy USTR for Trade Enforcement, which would for the first time create a one stop shop to guarantee our trade partners play by the rules. The Deputy USTR for Trade Enforcement will have the authority to investigate and recommend prosecuting cases before the WTO and under trade agreements to which the United States is a party. The legislation will also hire 100 new trade enforcement investigators so that we ensure America's trading partners are playing by the rules.

Protecting Intellectual Property

For years American manufacturers have been able to stay ahead of foreign competition largely because of their commitment to quality and innovation. However, that commitment serves them little benefit when their own government is unable to protect American innovations. Nowhere is this issue becoming clearer than in our relationship with China. Press reports of rampant Chinese manufacturing piracy on everything from brake pads to DVDs has made it clear that China is not yet committed to enforcing the intellectual property laws they agreed to as a condition of joining the World Trade Organization.

According to the FBI, counterfeiting costs U.S. business $200 to $250 billion annually, costing more than 750,000 jobs. I have cosponsored and helped to pass legislation to tighten American copyright laws so that falsely labeled products cannot claim to be American made.  Recently, I led efforts to increase the number of trade enforcement officers working to protect American jobs.

Click here for a speech I gave on the floor of the House of Representatives on this issue.