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Blumenthal Praises Passage of Chinese Currency Manipulation Bill

(Hartford, CT) – Senator Richard Blumenthal tonight released the following statement on the passage of The Currency Exchange Rate Oversight Act of 2011, a bill aimed at curbing China’s undervaluing of its currency which has unfairly skewed trade markets in favor of Chinese products. The measure passed 63-35.

“For years, China has manipulated its currency to boost their products at the expense of American jobs and workers. The passage of this bill is an important step toward leveling the playing field and will give Connecticut businesses and manufacturers a fairer, better opportunity to grow by increasing their exports.”