27 October 2011
Tags: China, Mary Pryor
By Bill Lawson
Arkansas News Bureau
MAUMELLE — The United States is in a trade war with China, even if U.S. officials won’t admit it, U.S. Sen. Mark Pryor, D-Ark., said today.
Speaking at a Maumelle Area Chamber of Commerce luncheon, Pryor said the Chinese government’s main weapon in the trade war is its currency, which he said results in Chinese goods costing about 20 percent less here than similar American-made products and making American goods about 20 percent more expensive in China.
“For those who say we shouldn’t start a trade war with China, I’ve got news for you, we’re already in the middle of a trade war,” Pryor said.
“I support fixing this trade imbalance,” the senator said, adding that decisions on correcting the problem could be among the most important facing Congress. “We need to get it right.”
Pryor also outlined his job-creation plan during his address, a proposal that would lean heavily on regulatory reform, tax reform and infrastructure investment.