“House leaders are moving forward with legislation to combat China’s currency policies, adding to pressure from the Obama administration and giving lawmakers an election-year chance to vote on a sensitive trade matter. The House Ways and Means Committee plans to vote Friday on a bill that would expand the Commerce Department’s power to impose duties on Chinese imports in response to that country’s currency being undervalued on world markets.” (Washington Post)
Smart move: Punish American consumers for China’s currency policies.
FEE Timely Classic
“What Free Trade Really Means” by Jeffrey Herbener