Last Friday, I pointed out that Keith Bradsher, a NY Times reporter, wrote about the currency issue and the fact that "punitive tariffs" were being considered. If the administration labels China a currency manipulator, it would face further Congressional pressure to impose punitive tariffs on many Chinese goods. I and…

Yet another article today, by Keith Bradsher of the NY Times, on China’s public statements regarding currency values. What struck me about the article is the continued use of the phrase, "punitive tariffs." If the administration labels China a currency manipulator, it would face further Congressional pressure to impose punitive…

I missed this Schumer quote from Tuesday, about the bill that he and Stabenow worked on, basically combining their two currency bills (CPA supported the Stabenow version). "We intend to move that legislation quickly," he said. "We believe it will pass in a bipartisan way, overwhelmingly." I know Schumer is…

I missed this Schumer quote from Tuesday, about the bill that he and Stabenow worked on, basically combining their two currency bills (CPA supported the Stabenow version). "We intend to move that legislation quickly," he said. "We believe it will pass in a bipartisan way, overwhelmingly." I know Schumer is…

R-CALF USA provided testimony on yesterday’s currency hearing.  The organization analyzed currency manipulation in the specific context of its impact on cattle and beef.  The idea that China is the next big market for beef is put into question, and currency plays a big part of the pessimistic dynamic. The…

The first news reports are out after the House Ways & Means Committee hearing yesterday.  The NY Times has a general article out on currency saying this: 1.  The Chinese met with Treasury, and said that they won’t revalue currency.  The reason is that revaluation will hurt developing economies.  That…

China’s executives, at least some, want a stronger yuan, reports Bloomberg.  Unfortunately, the small appreciation percentages they discuss are likely to have little impact on the trade deficit. A big danger is for China to allow the yuan to appreciate by, say, 5%.  That action would take some of the…

Reagan-Bush economist Martin Feldstein and Clinton-era economist Laura D’Andrea Tyson spoke at the Credit Suisse Asian Investment Conference in Hong Kong on Tuesday. And they said that if only the U.S. would shut up on currency issues for a couple of months, then the Chinese would unilaterally raise the value…

The House Committee on Ways and Means will hold a hearing tomorrow on currency manipulation.  This is an important step in the process to addressing the issue in this 111th Congress.  The notice is below.

*****

ADVISORY FROM THE COMMITTEE ON WAYS AND MEANS

FOR IMMEDIATE RELEASE
Chairman Levin Announces Hearing on
China’s Exchange Rate Policy

Ways and Means Committee Chairman Sander M. Levin today announced a full
committee hearing on the exchange rate policy of the Government of the
People’s Republic of China, and its impact on the U.S. and global
economies.  The hearing will take place on Wednesday, March 24, 2010, in
the main Ways and Means Committee hearing room, 1100 Longworth House
Office
Building, beginning at 10:00 a.m.

The past three weeks have seen a lot of movement on currency.  Everyone believes that China’s currency undervaluation is a problem.  The Economic Policy Institute featured Paul Krugman, Fred Bergsten, Rob Scott, and others in DC on March 12 outlining how fundamental a problem this is, and calling for remedies…