Democracy Now: House Backs Tariffs on China

On Capitol Hill, the House has voted to penalize China for controlling the value of its currency. The bill would allow new tariffs on Chinese goods in response to China’s alleged manipulation of the yuan to boost its exports. Democratic Congress member Timothy Ryan said the legislation would help protect US jobs.

Timothy Ryan: “This is about taking our country back. You wonder why people are anxious out there? They’ve been working longer, working more, getting paid less. I’d be anxious too. I’d be upset. That’s what we’re feeling in the country. And I think this bill is an opportunity for us to reinvest back in the United States, put people back to work, and have good, middle class jobs here in the United States.”

China has accused the US of protectionism and says the measure could damage economic ties.

~ by wheresthemic on September 30, 2010.

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