Brown claims China manipulating currency

Sen. Sherrod Brown will reintroduce today a bill that aims to discourage what he claims is currency manipulation by China, which he and critics contend hurts exports of American manufactured goods to China.

The bill, which has bipartisan support and easily passed the Senate in 2011 before dying in the House, would require President Barack Obama to impose tariffs on Chinese exports to the United States if the Treasury Department concludes China is manipulating its currency.

The bill’s supporters charge that China’s government intentionally devalues its currency for two purposes: To make American goods more expensive in China and to make Chinese exports less expensive in the U.S. and other foreign countries.

In a statement, Brown, D-Ohio, said that “as our trade deficit continues to widen, our need to level the playing field for American manufacturers and workers becomes more urgent.”

Brown argues that currency manipulation gives Chinese exports an unfair advantage and jeopardizes American businesses and jobs.

In 2011, House Speaker John Boehner, R-West Chester Twp., refused to permit a floor vote on the issue. Brittany Bramell, a Boehner spokeswoman, said that “the speaker’s concerns about this legislation have not changed, and they appear to be shared by the White House, which notably has done nothing to advance it.”