The U.S. Department of Commerce reported on April’s international trade in goods and services and brought a quick response from the Alliance for American Manufacturing.
“Our trade problem can be summarized in one word: China,” said AAM Executive Director Scott Paul. “Imbalanced trade with China is responsible for over half (57%) of the overall U.S. trade deficit in April.”
Paul added: “China’s mercantilism is the most dangerous threat to real recovery for American manufacturing. Congress and the Administration should vigorously enforce our trade laws to guard against dumping and subsidies. The exchange rate of the yuan must be on the table at all future U.S.-China economic and trade meetings.
“Until the exchange rate in China is adjusted to reflect market conditions,” Paul said, “we’ll never have balanced trade that benefits American workers and businesses.”
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