Congressman Chris Lee made a special appearance at PGM on Tuesday May 12, 2009 to announce his support for major bipartism legislation combating illegal Chinese trade practices which have contributed to many lost jobs in NY state. Many economists believe that the Chinese have been undervaluing their currency (yuan) by as much as 40 percent. The value behind this is so the Chinese are able to make goods more cheaply that the U.S.
During his visit, Congressman Lee discussed his desire to pass The Currency Reform for Fair Trade Act (CRFTA) of 2009. This is specifically targeted towards currency manipulation. Congressman Lee quotes “American workers can compete with anyone is the world, but free trade has to be fair. The Currency Reform for Fair Trade Act is an effective bipartism solution that levels the playing field for American manufacturers and protects American jobs.”
PGM fully supports Congressman Lee’s Currency Reform for Fair Trade Act and we look forward to seeing the results come forth