Last night, the U.S. Senate voted to continue debating legislation cracking down on Chinese currency manipulation. The procedural vote was 79-19. The Senate continues to debate the legislation today.
Senator Lindsey Graham spoke on the Senate floor, saying that China is keeping its currency “consistently undervalued” which he says continues to create a competitive advantage for the Chinese.
“China must stop cheating,” says Graham. He says that country’s currency control has resulted in 2 million jobs being lost in the United States and over 40,000 in South Carolina.