Pa. Senate candidates split on bill to allow trade sanctions against China over currency valueBy AP
Thursday, October 7, 2010
Pa. Senate candidates split on China trade bill
HARRISBURG, Pa. — Pennsylvania’s Republican and Democratic candidates for U.S. Senate differ on a bill that seeks to address a trade imbalance with China.
Republican Pat Toomey said Thursday he believes the bill would create more harm than good for Americans.
Toomey’s Democratic counterpart, U.S. Rep. Joe Sestak, voted for the measure. It passed the House last week, 348-79, and was sent to the Senate.
It would allow the U.S. to seek sanctions against China and other nations that gain trade advantages by manipulating their currency.
Supporters say it would bring back some of the American jobs lost to China’s artificially undervalued currency that makes Chinese products cheaper to buy.
Toomey says the bill risks starting a trade war that would make it costlier to export goods and buy imports.
Tags: Asia, China, East Asia, Greater China, Harrisburg, North America, Pennsylvania, Senate Elections, United States