Bill passes 63-35 in the U.S. Senate
FLINT -- In an effort to stop China from continuing a practice called 'currency manipulation', U.S. Senator Debbie Stabenow has helped write The American Competitiveness Plan.
The legislation imposes duties on goods exported from China.
The bill was passed by the U.S. Senate 63-35 on Tuesday, and now goes before the U.S. House of Representatives for a vote.
Sen. Stabenow says China has been a flagrant culprit of 'currency manipulation', the practice of devaluing their own currency in order to make its exports cheaper.
"That's a form of cheating. They're not following global rules," said Senator Stabenow.
The bill would also create a fulltime U.S. Trade Law prosecutor, and help to end the theft of U.S. intellectual property.
"For too many years we've operated at a disadvantage. We have felt that in our community time and time again," said Flint Mayor Dayne Walling.
Since being admitted to the World Trade Organization in 2001, China's practice of 'currency manipulation' has caused the U.S. trade deficit with the country to more than triple.
Sen. Stabenow also believes the practice has crippled U.S. manufacturing, leading to the elimination of close to two million jobs.
"So you can imagine if the rules were fair, how much more success we would have in terms of jobs," said Sen. Stabenow.
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