By Jelani Rucker on Wednesday, 10 October 2012
Category: The Zekelman Industries Commitment

Currency Manipulation Hits Home as Local Politicians Take Stance on China

Our Wheatland Tube facility recently had OH –U.S. Sen. Sherrod Brown (D-OH) and Rep. Tim Ryan (OH-17) visit in Warren to highlight steel jobs created and saved through trade enforcement. Wheatland Tube is nearing completion of a $14 million renovation to its Warren plant that resulted in the hiring of 30 workers. It was an honor having politicians acknowledge the jobs we created by taking a stance and supporting China Currency legislation.

"If we level the playing field, if China quits cheating on currency, if we force China to quit cheating on currency, we know it will mean thousands more jobs in the Valley and the state and hundreds of thousands of jobs in this country," Brown said.

China’s currency manipulation contributes to the outsourcing of American jobs and poses a serious problem that requires action. We support the Currency Exchange Rate Oversight Reform Act, which would punish China when it cheats trade laws by manipulating its currency, and could create 2 million American jobs at no cost to taxpayers.

“The manufacturing industry in the Mahoning Valley and across Ohio is bouncing back, but challenges remain—and that’s why we can’t turn a blind eye to trade partners that cheat. Our workers and business can compete with anyone when we enforce trade law, and that includes addressing China’s currency manipulation.” Brown said.

The steel industry is one Ohio business that has benefited from pushing the administration to enforce trade laws. Fairly traded imports are a vital part of our economic fabric, but manufactures need to compete on a level playing field. These trade laws exist for a reason, and without enforcement, our country’s manufacturing base does not stand a chance to survive. When industry and the government get tough on trade and enforce existing laws, our workers and businesses win.

"The bottom line is when tariffs go on when the Chinese are cheating, you get jobs here at Wheatland Tube,Ryan said.

Tweetable Quotes and Facts about China’s Currency Manipulation:

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