News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Hennes Paynter Communications

Akron General

Levin Furniture


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Ohio's U.S. senators push issue of currency manipulation in bills, hearings
Brown and Portman says American manufacturers can complete is rules are fair
by WKSU's M.L. SCHULTZE
and GRACE MURRAY


Web Editor
M.L. Schultze
 
Sherrod Brown says the $24 billion trade deficit with China is built partly on currency manipulation.
Courtesy of WKSU
Download (WKSU Only)
In The Region:

Both of Ohio’s senators are taking aim this week at what they call the unfair trade practice of currency manipulation. The question is whether their Republican and Democratic counterparts in the House see it their way. WKSU’s M.L. Schultze has more.

LISTEN: Currency and trade debate

Other options:
Windows Media / MP3 Download (1:27)


Ohio Sen. Sherrod Brown has long maintained that the Chinese artificially keep the value of their currency low: Exchange rates  make it cheaper for them to sell products in the U.S. and more expensive for U.S. manufacturers to sell there.

In his weekly conference call with reporters yesterday, the Democrat announced he’s introducing a bill to use U.S. trade law to oversee currency exchange rates. He’s tried it last year, and got nowhere with the House. But that, he notes, was an election year.

“This year’s different because a whole lot of small businesses understand and talked to their House members about the importance of this legislation. I have no doubt that if this is brought to the House floor we’ll get at least 250, probably 300 votes.”

Brown has pounded primarily on China. But Ohio’s other senator, Republican Rob Portman, says other countries have played games with currency, a point he raised in a Senate Finance Committee hearing yesterday with President Obama’s nominee for trade representative, Michael Froman.

“The decision by the Japanese, as an example, to intervene in their currency and devalue their currency means that cars coming from Japan are less expensive than they would otherwise be. … For a $30,000 car, it would be a $6,000 difference in price.”

Opponents of bills like Brown’s say the Chinese have been improving their record and that such bills could spur a trade war.  The U.S. trade deficit with China was $24 billion in April.  

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

The postal workers union is challenging mail-sorting closures in Ohio
Do not close the akron facilaty for mail processing. This will severly deminish mail service to the northeast ohio area, Cleveland can not handle this burden.

Cuyahoga Valley National Park OK's sharpshooters to thin deer herds
In this article you mention that the Mule Deer Foundation is a "hunting group" in reality the Mule Deer Foundation is a conservation group that is over 25 years...

Clarence Bozeman: In the driver's seat of history
I believe he was a teacher of mine as James Ford Rhodes. My favorite teacher of all time! Loved learning this part of his amazing history.

Cleveland RTA is moving Public Square bus stops beginning this week
I am very confused. Why are you taking one or more of the park and ride 246 out of service in the morning. I looking over the new schedule I see that there ar...

Canton school board will vote Wednesday on its high school merger
Great to see that THE REPOSITORY is advising a 'no' vote for now! Another point, besides all the Very accurate points already made against this move is the fac...

Some parents opting their students out of Common Core test
I am an 8th grader at a school in Allen County. I have just recently taken the ELA performance based assessment and found it extremely difficult. It asked me a ...

Fallout from the Ohio Supreme Court Munroe Falls ruling
The comment by Nathan Johnson from OEC is confusing. Instead of cities being 'emboldened' to craft zoning laws that were just stricken down by this ruling, comm...

Stopping sediment dumping in Lake Erie
Ah, yes, the Army Coro of Engineers, the geniuses that designed the levee system in New Orleans that has made the flooding worse due to no sediment reaching the...

Ohio charter school critic says reform bills are a good step
The cold truth is that these charter schools are offering services beyond the what the state tests can guage. Parents and students have a choice and they are ch...

State law trumps restrictions on oil and gas drilling in Munroe Falls
Justice O'Neill's quote brings up a point I wish WKSU would address: since, unlike for Federal judges, our judges here in Ohio are elected, and therefore respo...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University