Russ Carnahan on HR 639 currency reform and fair trade act

January 9, 2012




Thank you for contacting me to share your support for H.R. 639, the Currency Reform for Fair Trade Act. I appreciate hearing from you and welcome the opportunity to respond.



As you know, H.R. 639 aims to mitigate the effects of currency manipulation by foreign countries. Specifically, the legislation empowers the Commerce Department to impose countervailing and anti-dumping duties if a foreign currency is found to have been undervalued or overvalued for an 18-month period. It may please you to know that I have cosponsored of this important legislation.



I share your concerns that the trade polices of foreign countries, especially China , harm American workers and businesses, particularly manufacturers. Since coming to Congress, I have supported several measures to remedy this situation. I have supported several bills in the Make It in America agenda, such as the Preventing Outsourcing Act and the U.S. Manufacturing Enhancement Act. Most recently, I rallied several of my colleagues from the Missouri congressional delegation to sign a letter urging the Obama Administration to swiftly address China 's evasion of anti-dumping and countervailing orders.



Given your interest in this issue, I want you to know that I have cosponsored the TRADE Act in each of the past two sessions of Congress. This legislation outlines a way forward to a new trade and globalization agenda that would benefit more Americans. Specifically, it would strengthen congressional authority in trade negotiations and ensure standards of fairness, economic growth, safety, labor, and human rights in agreements with foreign countries.



Establishing a fair system of currency valuation will assist American industries climb out of the recession and hire new workers. Americans should be confident that their hard work is not undermined by unfair trade practices of foreign countries.



Currently, H.R. 639 has been referred to the House Committee on Ways and Means. As a cosponsor of this bill, I will work with my colleagues to seek its passage. Please be assured I will continue to work to ensure that our trade laws are beneficial to American businesses.



I always appreciate hearing the views of constituents about issues facing Congress. Please feel free to contact my office if I can be of further assistance to you on this or any other matter of concern. I also hope you will find my website, carnahan.house.gov , a useful resource for keeping up with my work in Washington and the 3rd District of Missouri, and I welcome you to sign up for my e-newsletter at carnahan.house.gov/updates .

Sincerely,

Russ Carnahan