Press Releases

Today, U.S. Representative Rick Larsen (WA-02) released the following statement after meeting with members of the Chinese Ministry of Commerce.  Larsen is the co-chair of the bipartisan U.S.-China Working Group (USCWG). The USCWG includes 63 Members from the U.S. House of Representatives and focuses on educating Members and staff about the U.S.-China relationship through meetings and briefings with academic, business and political leaders from the United States and China. Larsen represents the 2nd Congressional District of Washington state. China is the largest and most rapidly growing export market for Washington state. One in three jobs in Washington state is tied to trade, and from 2000 - 2009, Washington state exports to China grew by 379 percent.

“While China must continue to reform its indigenous innovation and national champion policies, China must also move faster to reform its currency policy.

“China's currency policy is hurting U.S.-China trade because it is making products manufactured in the U.S. more expensive to export.

“China's currency policy is detrimental to China's economic interests. Revaluation is one of the few tools that China has left in its toolbox to contain rising inflation. 

“As Secretary Geithner testified today before the Ways and Means Committee, many of China's trading partners are concerned with its currency policy.  I urge Secretary Geithner to consider appropriate steps that will press China to continue movement on its currency.

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