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Tom Gibson
Strong Action Needed to Back Up Strong Words

"U.S. Treasury Secretary Timothy Geithner has yet another opportunity this Friday to formally identify China as a currency manipulator.   In testimony before the House Ways & Means Committee in September, Secretary Geithner said that “heavy intervention” by the Chinese government keeps the yuan undervalued, to the detriment of other nations.   October 15 is the next scheduled date whereby the Administration could name China as a currency manipulator, giving the U.S. a number of options to address China’s harmful currency undervaluation, which gives its producers as much as a 40 percent subsidy for their exports at great cost to American manufacturers.

Strong action is needed by Secretary Geithner to back up the strong words he has leveled at China.  Since 2001, 2.4 million U.S. jobs have been lost due to the China trade deficit.  China’s currency undervaluation is stealing high-paying American jobs.  We urge Secretary Geithner to designate China as a currency manipulator."

-AISI President and CEO Thomas J. Gibson

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