Pittsburgh, PA — Congressman Tim Murphy (PA-18) today released the following statement in response to a new report from the Economic Policy Institute (EPI) showing the United States lost 662,000 jobs between 2008 and 2011 as a result of the United States-China trade deficit:

“Southwestern Pennsylvania boasts one of the most highly skilled and productive workforces in the world, but local manufacturers and steelmakers can’t compete on a level playing field because China is cheating on trade,” said Congressman Murphy. “In Pennsylvania alone, more than 100,000 jobs have been destroyed as a result of China’s currency manipulation, which is why the Administration should acknowledge reality and name Beijing a currency manipulator. It’s time for our nation to send a message to China: play fair or get out of the game.”

About The Currency Reform for Fair Trade Act (HR 639):

Congressman Murphy co-authored H.R. 639, the Currency Reform for Fair Trade Act with Congressmen Sander Levin (D-MI) and Tim Ryan (D-OH). The bill holds China accountable for its illegal currency manipulation which results in Chinese exporters getting a 20-40 price advantage against US-made products like steel.

H.R. 639 gives the U.S. Department of Commerce the discretion to treat currency undervaluation as a prohibited subsidy, allowing for the imposition of offsetting or countervailing duties on imports from any country that deliberately undervalues its currency. The legislation was written to be consistent with U.S. rights and obligations under the agreements of the World Trade Organization and the International Monetary Fund.

To learn more about Rep. Murphy’s Currency Reform for Fair Trade Act, click here.