Reichert Rejects Flawed China Currency Proposal That Puts U.S. Jobs at Risk
"This bill is a poor excuse for a trade agenda"
Washington,
Sep 29 -
Washington, DC – Congressman Dave Reichert (WA-08), a member of the President’s Export Council and the House Ways & Means Committee, today rejected a flawed, politically motivated proposal that would do nothing to address Chinese currency concerns while risking retaliation that could cost U.S. jobs.
“Growing exports means growing jobs here at home,” Reichert said. “That’s why the legislation considered today is so misguided and so wrong for Washington state, which counts China as our single biggest export market for goods and services ranging from Boeing airplanes to Microsoft software to apples, cherries, and other Northwest commodities. This bill would do nothing to address the currency issue, but what it would do is create unnecessary trade tensions with China and prevent us from tackling more pressing issues in our economic relationship, including the piracy of intellectual property rights that cost U.S. businesses $9 billion per year.
“This bill is a poor excuse for a trade agenda,” Reichert continued. “It’s truly disappointing that rather than hold even a single hearing to consider pending free trade agreements with Korea, Colombia, and Panama that have languished for years and have the potential to create hundreds of thousands of U.S. jobs, the only trade vote of this Congress is on hastily crafted, politically motivated legislation that puts U.S. jobs at risk. This is yet another example of what’s wrong with Washington, DC.”
BACKGROUND
Reichert, a member of the President’s Export Council, is a long-time, vocal advocate for free trade. He has led the fight in Congress in his role on the House Ways & Means Committee, the Trade subcommittee, and as a member of the Trade Working Group to urge the passage of pending free trade agreements with Korea, Colombia, and Panama. Reichert founded the bipartisan U.S.-Korea FTA Working Group to broaden support for the agreement, and teamed up with Adam Smith (WA-09) to garner the bipartisan support of 88 Members of Congress in urging the Obama Administration to bring the U.S.-South Korea Free Trade Agreement (KORUS FTA) before Congress for consideration. 44 Democrats and 44 Republicans from all regions of the country signaled their support for preparing the trade deal for a vote, which has not been approved by Congress since its signing on June 30, 2007.
Reichert was recently honored with the 2010 Trade and Investment Leadership Award by the Emergency Committee for American Trade (ECAT) for leading the fight to open new markets to trade, ensuring America’s continued prosperity. In 2008, Reichert traveled to Colombia with a bipartisan congressional delegation to meet with Colombian President Alvaro Uribe and other stakeholders to discuss the Colombian agreement. Upon his return to the U.S., Reichert circulated an emergency letter urging his colleagues join as one voice and urge Democratic leadership to reconsider plans to stop a vote on the Colombia Free Trade Agreement. Further information on Reichert’s trade advocacy is available here.)
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