Lack of action will endanger more American jobs; further erode U.S. manufacturing
In a letter sent today to members of the U.S. Senate, United Steelworkers (USW) International President Leo W. Gerard called for immediate passage of the bipartisan Currency Exchange Rate Oversight Reform Act of 2011.
This legislation addresses the damage being done to American workers and industries by China and others purposely undervaluing their currencies. The practice taxes the products the United States exports while subsidizing the flow of foreign goods into the U.S. marketplace. Immediate action is needed to balance trade and reduce the federal deficit ... more