Washington, DC – Today, Congressman John D. Dingell (D-MI15) commended Chairman Sander Levin (D-MI12) of the House Committee on Ways and Means for commencing two days of hearings on China’s exchange rate policy.
“Chairman Levin’s wise decision to commence a formal congressional investigation of China’s currency policy could not have come at a better time,” said Dingell. “For years, China has manipulated the value of its currency to gain an unfair advantage in foreign trade, something which contributed to massive job losses in this country. I also note with extreme displeasure that Japan recently intervened in international currency markets for the first time since 2004 to prop up that country’s export-led economy. This practice, regardless of the country that practices it, must stop, and I am confident that Chairman Levin’s actions will contribute to that worthy goal, which in turn will help level global trade imbalances and put Americans back to work."
