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Case of congressional myopia

October 30, 2011
William N. Letson - Guest Columnist ( , Tribune Chronicle |

The United States Senate recently passed a bill which would require the Treasury and the Commerce Departments to impose retaliatory tariffs on nations that have under valued currencies. The main pusher of this bill is Senator Charles Schumer, Democrat of New York, but his effort is gaining bipartisan support. The bill is clearly aimed at China. The supposed justification for the bill is that China has kept its currency artificially devalued so it can sell more products in the United Sates, thus robbing Americans of jobs.



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