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For Immediate Release: February 26, 2007
Rep. Sutton joins Rep. Tim Ryan and Rep. Duncan Hunter to Introduce Fair Currency Act
Effort to end imbalances in Currency exchange rates will also be joined by China Currency Coalition representatives
Rep. Betty Sutton will speak at a press conference
this Wednesday February 28th at 12:00 PM with Rep. Tim Ryan (OH-17)
Rep. Duncan Hunter (CA-52) and Rep. Donald Manzullo (IL-16) to announce
the re-introduction of legislation aimed at ensuring that U.S.
producers are not harmed by exchange-rate manipulation, and that free
market currency exchange rates exist between countries.
Sutton is an original co-sponsor of this bipartisan effort that already
has over 50 cosponsors this session. The exchange rate misalignment
between the U.S. Dollar, Chinese Yuan and other major trading partners
is considered by many to be a prime reason for the current trade
deficit.
The goods deficit with China hit a new record of $232.55 billion, a
15.38% increase over 2005's $201.55 billion. Although U.S. goods
exports to China increased by 31.70%, to $55.22 billion, a much greater
level of goods imports from the People's Republic increased by 18.20%,
to just under $288 billion.
WHO: Rep. Betty Sutton (OH-13), Rep. Tim Ryan (OH-17), Rep. Duncan Hunter (CA-52), Rep. Donald Manzullo (IL-16), and the China Currency Coalition
WHAT: Reintroduction of bipartisan legislation entitled the 'Fair Currency Act of 2007'
WHERE: Cannon House Office Building Terrace, corner of Independence and North Capitol **NEW LOCATION**
WHEN: Wednesday, February 28th, 2007 at 12:00 PM
Contact: Linden Zakula at 202-225-3401 or linden.zakula@mail.house.gov
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