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.

Cedar Point


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

A small group of tea party and Democrats protest at Kasich campaign stop
Enjoyed your excellent coverage of the statehouse for sometime now, never dreamed I'd be on. The feedback from people has been great. Thank you. Doris Adams

Top staffers are leaving the FitzGerald gubernatorial campaign
I's too bad that the dirt on Fitzgerald dug up by Kasich's operatives and publicized heavily by the Yellow Plain Dealer has caused the weak staffers of the Fitz...

Churches come together to welcome and include Gay Games athletes
Nicely done!!! A little known fact about the El Salvadoran and Columbian scholarships.. A big thank you to the Faith Community for their support of Gay Games 9....

What do Ohio farmers need to do to control Lake Erie problems?
This was a great article, thank you, Karen Schaefer. There was an error- Roger Wise is the past president of the Ohio Farmer's Union; not the Ohio Farm Bureau ...

Registration for the 2014 Gay Games ends Monday at midnight
Judy Benson and Sally Tatnall are loved and appreciated by all in our community and throughout the US for their untiring work for OLOC and for educating the com...

Like any family, the Gay Games has its generation gaps
Great article ... important perspective.

Gay Games rodeo: Changing stereotypes
Robin, Thank you for a fine piece of recorded history. This is history in the making; a gay, Asian man, one of the last bronc riders in IGRA, and Rodeo at Gay G...

Ohio lawmakers hold hearing on prison food problems
So you fine them..this has been going onand the law makers are aware of this issue.I have been told by many about the maggots and rotten food not fit for a dog ...

Interview with early Beatle Pete Best
"the Leshdu (?) Quartet.." Actually that's the Les Stewart Quartet. George Harrison was in that band at the same time as the Quarry Men.

Copyright © 2014 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