With Gains across States and Congressional Districts
The United States has struggled with job creation in the wake of the Great Recession. This report produced by the Economic Policy Institute outlines how ending currency manipulation by 20 countries — including China — could create 5.8 million U.S. jobs in three years.
Currency manipulation is the primary cause of America’s massive trade deficit, an imbalance that has severely harmed American manufacturing.
Eliminating currency manipulation would reduce the U.S. trade deficit by up to $500 billion in three years. The U.S. GDP would increase by up to $720 billion.
Congress should pass legislation to treat currency manipulation as a subsidy in countervailing duty trade cases, and the administration should actively designate currency manipulators.