
Freaky.
(TheDC) — House Minority Leader Nancy Pelosi has declared that the U.S. is in an “abusive relationship” with China and that America will no longer “ride the Chinese tiger.”
“Our role is to register the concern of the American people on this,” Pelosi said at her weekly press briefing on Oct. 6. “This has been going on for 21 years — 22 years that I have been involved in this issue. And the U.S. decided way back when to ride the Chinese tiger.”
“It’s not about protectionism,” Pelosi said. “It’s about self-reliance. It’s about ‘Make it in America.’ It’s making our products competitive to going back and forth in China trade, in U.S.-China trade, but also in the world market. Their manipulation impacts their prices on the world market and makes us uncompetitive in terms of price.”
The Currency Exchange Rate Oversight Reform Act of 2011 would pressure China to let the value of its currency rise, in part by imposing tariffs and other penalties against countries for engaging in “fundamental misalignment” of their currency.
House Speaker John Boehner has labeled the bill “very dangerous” and warned that it could spark a trade war.
