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.

Lehmans

Don Drumm Studios

Northeast Ohio Medical University


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

School children in Bath produce a seed-to-table garlic feast
Super article. What a great idea to educate in sustainable farming! Garlic is so healthy as well. My Grandson Sam Mathews is in grade 4, and he looks like he ...

There's no off-season for the Cleveland International Film Festival
I would like to see "The Murders of Brandywine Theater" filmed by local Larry Longstreth shown at the Cleveland International Film Festival!

Study shows raising the cigarette tax a dollar could raise $342 million
So, it takes an expert to tell us raising the tobacco tax raises the revenue for the state? Doh. By the way, any one who was going to quit smoking probably alre...

Akron's Highland Square celebrates community spirit and public art
Both Donna and her husband, Joseph are both such amazing art talents! The photos look stunning! I must get down to Angel Falls for an in-person look. I just l...

Pluto: Another off-season, another Browns quarterback conundrum
The Browns do need a draftable QB for the future. Johnny Manziel needs to go and that leaves Brian Hoyer and Connor Shaw. Free agency doesn't really have any so...

Exploradio: Improving the lives of paralyzed people
God bless you doctor. I hope to be alive the day that humans, like me, can use the results of your search...

Nature and nourishment down by the river at the Metroparks' Merwin's Wharf
I love QUICKBITES! I look forward to it every week. One question: is it possible to include a link to the restaurant or store that you profile? Thanks!

Canton's proposed Timken-McKinley school merger is drawing spirited debate
From a sports opinion Varsity would have a lot more talent to choose from So Im sure varsity sports would improve.Also Timkens name would be much more published...

Canton school board will decide whether to merge high schools
I really hope we can save those jobs, usually we try to cut budgets but the demand is still the same. Then we look bad a year or two after the descion is made. ...

FirstEnergy wants PUCO guarantees on nuclear and coal prices
Would just comment that the plant has admitted the following (as reporting in the Akron Beacon Journal): "The utility has said it may have difficulty keeping t...

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