Peters Statement on President Trump’s Refusal to Label China as a Currency Manipulator

WASHINGTON, D.C.U.S. Senator Gary Peters (MI), a member of the Senate Commerce Committee, released the following statement after President Trump refused to label China as a currency manipulator:

“China has a proven history of manipulating their currency and engaging in illegal trade practices to deliberately undermine America’s economic competitiveness, and they are likely to resume these practices in the future. Currency manipulation prevents the American auto industry from expanding into new markets, and allows competitors like China to undercut American-made products.

“President Trump’s refusal to label China a currency manipulator shows he is unwilling to side with American workers against unfair trade abuses. Last week, I joined my colleagues in a letter to President Trump urging him to keep his promise to American workers and address the issue of currency manipulation in his meeting with Chinese President Xi Jinping. President Trump’s failure to even raise this very serious issue and his refusal to hold China accountable for their illegal trade practices is unacceptable. Despite his many tweets and campaign promises to stand up for American workers, President Trump’s failure to take strong action against China’s unfair trade policies will only further empower China at the expense of hardworking Americans.”