Sen. Schumer pushes bill on Chinese imports
Sen. Charles Schumer (D-N.Y.) visited Brakewell Steel Fabricators in Chester Tuesday to discuss the cause behind job losses in the Hudson Valley. Schumer says currency manipulations by China are to blame
•
May 22, 2014, 7:30 PM
•
Updated 4,005 days ago
Share:
Sen. Charles Schumer (D-N.Y.) visited Brakewell Steel Fabricators in Chester Tuesday to discuss the cause behind job losses in the Hudson Valley.
Schumer says currency manipulations by China are to blame for the elimination of manufacturing jobs in the U.S.
According to the senator, the yuan is priced too low against the dollar, making Chinese imports cheaper than domestically produced goods.
"Every Chinese good imported here, whether it's steel or apple juice," Schumer says, "gets a 30 percent tariff on it."
Schumer is now pushing a bill that will pressure China to let its currency rise against the dollar. He says with national unemployment at 9.7 percent, Americans cannot afford to wait.
More from News 12
1:23
FBI, NYPD and U.S. Customs seen at Tuxedo home of Russian oil executive
2:04
STORM WATCH: Periods of rain today; nicer weather for Mother's Day weekend
1:03
Child, attendant sent to hospital after bus involved in multicar crash
0:34
Car destroyed after catching fire in Sullivan County
0:50
Police: Drunk driver crashes into Mamaroneck home
0:42
