DETROIT (WWJ) As Chinese President Hu spends the day in Chicago continuing his U.S. tour, Michigan Senator Debbie Stabenow is reminding the public about China’s currency policy, emphasising a bill she’s working on to put a halt to the unfair practice.
“When they (China) sell to us, their products that they sell in the United States, get this artificial price discount up to 40 percent, because they don’t value their currency the way everyone else does. They don’t play by the rules that everybody else does.”
Stabenow says the Chinese get bids that should be going to Michigan suppliers and undercut American made products. Right now she’s working to pass the Currency Reform for Fair Trade Act of 2011, that would make it illegal for China to float their currency practice in the United States.