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Tag: Trade
Pros and Cons of the America COMPETES Act
In February, the House passed legislation aimed at bolstering America’s competitiveness with China and strengthening the country’s supply chain. A companion bill passed the Senate in June 2021 but is now caught up in a partisan divide and larger debate over how to handle America’s technology industry and the country’s economic policy toward China. The America COMPETES Act (H.R. 4521) passed in a 222-210 vote, with one Republican voting in favor and one Democrat voting no. The bill includes $52 million to support the domestic manufacturing of semiconductors, the computer chips that are often used in cars and computers. The…
China Currency Debate Heats Up
A congressional report issued November 17 reinforced U.S. accusations that China deliberately keeps its currency weak against the dollar to make its exports cheaper, leading to a huge trade imbalance with the United States. (See “China Currency Policy,” International Debates, November 2010.)