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Congressman Says China Should Play Fair
Congressman Phil Hare was in Galesburg today touting legislation he supported in the U.S. House.

The Currency Reform for Fair Trade Act was passed in the House last week. Hare says China is taking advantage of the U-S but it will stop.

"The Chinese manipulate their currency so they get a 40 percent reduction by lowering their currency value, and we are up against a $60 versus $100 product. So it puts us at a distinct disadvantage and it becomes harder to American manufacturers to export products made here when forced to compete against the phony prices of Chinese goods."

The bill says if China, or any other country does not fairly value their currency, they will face steep tariffs in the U.S.

The measure now heads to the Senate.
10 06 10 by Newsroom
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