WKSU News: Ohio Sen. Brown's bill challenges a Chinese trade deficit

Wednesday, October 5, 2011 Ohio Sen. Brown's bill challenges a Chinese trade deficit Brown says the bill would take away an unfair advantage that has cost 3 million Americans their jobs; the Chinese warn it could trigger a trade war. by WKSU's LAURA FONG	Reporter Laura Fong

Ohio Senator Sherrod Brown is the lead sponsor of the proposed Currency Exchange Rate Oversight Reform Act.

Ohio Sen. Sherrod Brown continues to push to make Chinese currency rates a key part of the trade debate.

The U.S. Senate this week voted 79-19 to allow debate on Brown’s bill. The Ohio Democrat maintains that currency manipulation allows the Chinese to export products at artificially low prices, and to keep the price of American imports high. He says some 3 million Americans have lost jobs because of the imbalance.

In a conference call with reporters today (Wednesday), Brown continued to push the bill, which would force the U.S. government to treat currency manipulation as a state subsidy

Senator Brown says middle class needs to stand up to illegal currency manipulati

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“When they’ve been gaming the system for ten years, when they’ve declared a trade war on us and we continue to play along and let them do it, shame on us. So, I think this currency bill is undoubtedly a chance to fight back, a chance to say ‘OK, we’re going to fight for our workers. … We’re drawing this line, no more are we going to be played for chumps.’”

The Chinese have warned that Brown’s bill could trigger a trade war.