Although some of us support and some of us oppose H.R. 2378, as modified by the Chairman’s amendment in the nature of a substitute, we all share the following views.  First, China’s currency is fundamentally misaligned.  We all agree that China must take prompt action to allow market forces to determine the value of its currency.  Since the Obama Administration took office, the RMB has… Read more

Let me start by saying that it is truly disappointing that this is the only trade bill in the past two years that has been marked up by the Ways and Means Committee.  I find it unacceptable that this is the sum total of our trade agenda. While this legislation addresses an important issue, it will not address many more pressing trade concerns with China and will not advance the goal of… Read more

Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) today delivered the keynote address at the National Foreign Trade Council Annual Dinner and discussed the need for greater action on the U.S. trade agenda – by Congress, the Administration and the business community – in order to spur economic growth and create U.S. jobs. In the speech, Ranking Member Camp noted that… Read more

At the four hearings we held this year on China, we heard from many experts about our economic relationship with China, and in particular, China’s currency policy.  There is no debate that China’s currency is fundamentally misaligned.  We all agree that China must take prompt action to allow market forces to determine the value of its currency.  But let’s not kid ourselves – there… Read more

Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) and Trade Subcommittee Ranking Member Kevin Brady (R-TX) today sent a letter to United States Trade Representative Ron Kirk asking for his view as to whether H.R. 2378 “The Currency Reform for Fair Trade Act”  is consistent with U.S. obligations under World Trade Organization rules. The full letter follows below:… Read more

It is clear that China is going to keep manipulating its currency — and crowding out every other exporter — until the world pushes back. So it was good to hear Treasury Secretary Timothy Geithner speaking out this week on Capitol Hill, warning that an undervalued Chinese currency “makes it more difficult for goods and services produced by American workers to compete.” The problem is… Read more

This is now the fourth hearing we’ve held on China this year, but only the first time that we’ve had an Administration official here to testify.  Secretary Geithner, I am sure that you share my concern about China’s currency policy.  It is fundamentally misaligned, plain and simple.  I presume there is no disagreement on this point. In our prior hearings, including yesterday’s hearing,… Read more

This is our third hearing on China this year.  At each hearing, this Committee has sent the clear and unequivocal message that this Congress is frustrated by China’s continued bad faith and aggressive pursuit of protectionist policies that jeopardize our economic relationship.  China must end its policy of economic nationalism and open its market to American-made goods and services and… Read more

Ways & Means Trade Subcommittee Ranking Member Kevin Brady (R-TX) issued the following statement today, about tomorrow being the first anniversary of the President’s decision to impose an additional tariff on tire imports from China, urging the President to review the economy-wide effects of the increased tariff.  The law allows the President to request a report from the U.S.… Read more

Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) today issued the following statement in reaction to the news that former Ways and Means Chairman Dan Rostenkowski (D-IL) passed away. “Dan Rostenkowski was larger than life, a strong chairman and a legislator who was able to work across party lines to produce significant results for the American people – most notably… Read more