May 14, 2015

Manchin Supports Crack Down of Currency Manipulation and Protections for Steelworkers

Washington, D.C. – U.S. Senator Joe Manchin (D-W.Va.) today issued the following statement after voting in support of cracking down on currency manipulation, a practice that experts believe has cost America hundreds of thousands – if not millions – of good-paying jobs in manufacturing. This legislation would also make it easier for U.S. steel producers to win tariff cases by allowing companies to include more evidence to prove unfair trade practices.

“West Virginia is truly home to some of the hardest working people in the world, and we can compete against anyone – as long as the playing field is level and the rules are fair,” Senator Manchin said. “But some countries often try to cheat the system and undervalue their currency in order to lower their prices on exports. These unfair practices have crippled our manufacturing sector and left a lot of hardworking West Virginians and Americans without work. Unfair trade deals also make it difficult for companies to prove they’ve been harmed or have received less profits due to foreign practices. This bill would help protect our hardworking steelworkers by improving injury standards to win tariff cases through evidence that shows the company was subject to unfair trade practices.

“I – for one – will continue the fight to stop unfair trade practices and make sure countries cannot manipulate their currencies on the backs of hardworking American workers. I am pleased that the Senate passed this bill in support of placing costly tariffs on any country caught manipulating their currencies.”