Washington, D.C. – U.S. Senator Bob Casey, a member of the Senate Finance Committee, released a statement following reports that China has taken steps to devalue its currency:
"This is further evidence that China can't be trusted on currency policy in the global economy. The rosy reports about China no longer devaluing its currency proved to be short lived, much like we've seen from China over the years when they've occasionally changed their behavior only to revert back to cheating. When China doesn’t play by the rules it costs Pennsylvania jobs. It's time for the Administration to focus more intensively on China's cheating and label the country a currency manipulator."