In Light of China’s Growing Trade Surplus with U.S., Calls on House to Pass Currency Legislation
Remarks Follow Casey Letter to Geithner in Advance of China Trip
WASHINGTON, DC – U.S. Senator Bob Casey (D-PA), Chairman of the Joint Economic Committee, released the following statement:
“We now have further evidence that our trade relationship with China is headed in the wrong direction. China’s surplus with the U.S. hit a record $202 billion in 2011. The White House and Congress need to get tough on China. That is why I urged Secretary Geithner last week to press this with Chinese officials on his trip and I have repeatedly urged the House to pass the bipartisan currency legislation. As we prepare for the Senate to return to work, I will continue to fight for one of the most effective tools we have to level the playing field for Pennsylvania workers – cracking down on China’s currency manipulation.”
China’s General Administration of Customs announced that its trade surplus with the United States increased to $202 billion from $181 billion in 2010.