DeLauro Statement on the Trade Monitoring List

WASHINGTON, DC (May 3, 2016) — Congresswoman Rosa DeLauro (CT-03) today released the following statement regarding news that the U.S. Department of the Treasury placed five countries—China, Japan, Germany, South Korea, and Taiwan—on a trade monitoring list.

“Despite the Treasury Department’s monitoring list, the Administration has still done nothing to curb abusive currency practices. In August of 2015, China engaged in the largest single-day devaluation of the renminbi, costing American jobs and depressing American wages. Last year, the U.S. trade deficit with China reached a record high of more than $1 billion every day.

“Placing countries on a list is not enforcement. This is why hundreds of bipartisan Members of the House and Senate called for the inclusion of enforceable currency disciplines in the core text of the Trans-Pacific Partnership. The lack of a fully enforceable currency chapter that cracks down on the bad currency management by our trading partners is just one more reason why we must reject the TPP. We must put the American worker first and stand up against countries engaging in unfair trade.”

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