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National Issues


Ohio Sen. Brown pushes to end currency manipulation in a new report
Brown says an end to currency manipulation can lead to more jobs in more than 200,000 more jobs in Ohio.
Story by AKILAH PORTER


 
OH Sen. Sherrod Brown
Courtesy of Senator Brown's official page
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In The Region:

Ohio Sen. Sherrod Brown released a new report on currency manipulation today that he says could create more than 250,000 new jobs in the state.

He maintains that about 20 countries lower the cost of their products in U.S. markets by setting an artificial value on their currencies. That makes it harder for U.S. manufacturers to compete when they try to export to those countries.

U.S. Rep. Sandy Levin of Michigan says that currency manipulation affects his state the same way it does Ohio. He says that’s why it’s important to address this issue.

Hear how impacts many states in the country.

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“As this report so clearly outlines, currency manipulation has a very major impact on jobs, on business, on workers, on the trade imbalance— it’s a key part of the trade imbalance,” Levin said. “And so, TPP now has to essentially address the currency issue.”

The TPP is the Trans-Pacific Partnership, a free-trade agreement being pushed by the Obama Administration to promote economic growth among America and countries in the Pacific.

Sen. Brown says China, Japan, Malaysia and Singapore are some of the countries artificially lowering their prices.

He says if this issue is fixed, about 5.8 million new jobs could be created nationally.

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