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September 30, 2010

House Backs Tariffs on China
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On Capitol Hill, the House has voted to penalize China for controlling
the value of its currency. The bill would allow new tariffs on Chinese
goods in response to China’s alleged manipulation of the yen to boost
its exports. Democratic Congress member Timothy Ryan said the
legislation would help protect US jobs.

Timothy Ryan: "This is about taking our country back. You wonder why
people are anxious out there? They’ve been working longer, working more,
getting paid less. I’d be anxious too. I’d be upset. That’s what we’re
feeling in the country. And I think this bill is an opportunity for us
to reinvest back in the United States, put people back to work, and have
good, middle class jobs here in the United States."

China has accused the US of protectionism and says the measure could
damage economic ties.



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