April 18, 2006 – As tensions continue to rise regarding China’s currency manipulation and unfair trade practices, Chinese President Hu Jintao is scheduled to begin his four-day U.S. visit today in the Pacific Northwest. While in Washington, Jintao will visit Microsoft Corp. founder Bill Gates as well as Boeing’s Everett plant.
Jintao will then make his way to Washington D.C. on Thursday for a visit with President Bush, whose stepped up rhetoric has yet to lead to effective measures to put a halt to China’s unfair trade practices.
Senate Democratic Leader Harry Reid sent a letter to President Bush urging him to use Hu’s visit as an opportunity to take significant action to protect America’s security, economic and human rights interests.
“Whether the issue is China’s unfair manipulation of its currency, China’s rampant intellectual property piracy, China’s massive state subsidies, China’s lack of compliance with its obligations, or enforcement of U.S. fair trade laws, your Administration’s lack of real action has conveyed to Chinese leaders that rhetoric is more important than substance,” Reid said in the letter. “You must use this visit to make clear to President Hu that your Administration will no longer accept “get tough” rhetoric and occasional press release progress instead of strict compliance by China with global rules.”
China’s continued unfair trade practices, including undervaluing their currency by as much as 40 percent and their exploitation of cheap labor, has led to massive job loss in the U.S. and a record trade deficit over $200 billion.
Read the Harry Reid’s letter to President Bush.